$1,975,000
OPEN FRI 12PM - 1:30PM

138 Franklin St Lynn, MA 01902

Central Lynn Neighborhood

Estimated payment $11,880/month

Total Views 1,167
14 Beds
8 Baths
7,072 Sq Ft
$279 Price per Sq Ft

Highlights

  • Medical Services
  • Wood Flooring
  • Park
  • Property is near public transit and schools
  • Jogging Path
  • Shops

About This Home

Rare opportunity to acquire a well-maintained 8-unit asset, constructed in 1988, offering an attractive mix of renovated units and strong in-place cash flow. The property features four (4) one-bedroom units, two (2) townhouse-style two-bedroom units, and two (2) townhouse-style three-bedroom units. All units offer open-concept layouts with breakfast bars overlooking the living and dining areas. Kitchens have been renovated, and bathrooms are outfitted with durable vinyl surrounds, minimizing ongoing maintenance. Additional tenant amenities include individual storage units, in-building laundry connections, and off-street parking. Located along multiple public transportation routes and within close proximity to area amenities, the property benefits from strong rental demand. The asset is currently offered at a 7.25% capitalization rate on in-place income, and offers investors upside to increase rents moving forward. Also available as a package MLS#:73481300

Listing Agent

Dan Pouladian

North Shore Realty Advisors Listed on: 04/16/2026

Co-Listing Agent

Sara Pouladian

North Shore Realty Advisors

Open House Schedule

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $16,911

Year Built

  • Built in 1988

Lot Details

  • 7,479 Sq Ft Lot
  • Level Lot

Home Design

  • Frame Construction
  • Rubber Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 7,072 Sq Ft Home
  • Insulated Windows

Flooring

  • Wood
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 8 Full Bathrooms

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Block Basement Construction

Parking

  • 8 Car Parking Spaces
  • Driveway
  • 8 Open Parking Spaces
  • Off-Street Parking
  • Assigned Parking

Location

  • Property is near public transit and schools

Utilities

  • 8 Heating Zones
  • Separate Meters

Community Details

Overview

  • 8 Units
  • Property has 1 Level

Amenities

  • Medical Services
  • Shops
  • Coin Laundry

Recreation

  • Park
  • Jogging Path

Building Details

  • Electric Expense $1,490
  • Insurance Expense $7,200
  • Water Sewer Expense $7,107
  • Operating Expense $35,562
  • Net Operating Income $45,618

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$16,911

Year Built

Built in 1988

Lot Details

7,479 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • Year Built: 1988
  • Levels: 5
  • Year Built Details: Actual
  • APOD AVAILABLE: Yes
  • Special Features: OpenHouse
  • Stories: 5

Interior Features

  • Flooring: Wood, Tile, Vinyl
  • Fireplace YN: No
  • Total Bedrooms: 14
  • Basement YN: Yes
  • Full Bathrooms: 8
  • Total Bathrooms: 8
  • Basement: Full, Partially Finished, Concrete
  • Above Grade Finished Sq Ft: 7072
  • Living Area: 7072
  • Spa YN: No
  • Stories Total: 5
  • Window Features: Insulated Windows
  • MAIN LO: AN7007

Exterior Features

  • Construction Materials: Frame
  • Foundation Details: Concrete Perimeter
  • Home Warranty YN: No
  • Road Frontage Type: Public
  • Roof: Rubber
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking Spaces: 8
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street, Assigned
  • Total Parking Spaces: 8

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range, for Gas Oven
  • Electric: Circuit Breakers, Individually Metered
  • Water Source: Public
  • HEAT UNITS: 8
  • HEAT ZONES: 8
  • COOLING ZONES: 0
  • Hot Water: Natural Gas

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, Public School, T-Station, University
  • Senior Community YN: No

Fee Information

  • Water Sewer Expenses: 7107

Lot Info

  • Zoning: B
  • Farm Land Area Units: Square Feet
  • Lot Features: Easements, Level
  • Lot Size Acres: 0.17
  • Lot Size Sq Ft: 7479
  • Lot Size Units: Acres

Green Features

  • Green Energy Efficient: Varies per Unit

Tax Info

  • Tax Year: 2026
  • Tax Annual Amount: 16911

Multi Family

  • Electric Expense: 1490
  • Insurance Expense: 7200
  • Net Operating Income: 45618
  • Number Of Units Total: 8
  • Operating Expense: 35562
  • Total Actual Rent: 17405
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 3: 2
  • LEASE 2: N
  • LEASE 1: Y
  • FLRS 3: 2

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/16/2026 04/16/26 For Sale $1,975,000 -- $279 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73502739

MLS Property Information Network (MLS PIN)
Massachusetts Essex County Lynn 01902 Central Lynn

138 Franklin St, Lynn, MA

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MLS Property Information Network (MLS PIN) The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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Dan Pouladian
Listing Agent
Dan Pouladian
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North Shore Realty Advisors
(339) 231-8120
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