229 Lewis St Lynn, MA 01902
Fayette Street NeighborhoodEstimated payment $23,222/month
Highlights
- Corner Lot
- Shops
- 4-minute walk to Goldfish Pond Park
About This Home
~~~~~7% Return Ratio ~~~ 10 unit mixed use brick building built from ground up in 2010. Newer roof, newer plumbing, newer electrical, central AC all commercial grade. Hard wired smoke and sprinkler system as well. Property consists of (5) commercial retail units on first level. (Five) 3 bed 1 bath apartments on 2nd and 3rd floors in excellent condition. Washer and dryer hookups in all apartments. Tenants pay all utilities. All tenants have leases. Commercial tenants have rate increases built in yearly. Absolutely no deferred maintenance, nothing to do but collect your rents and watch as they increase. Laundry mat's business asset comes with the sale for free.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $17,946
Year Built
- Built in 2010
Lot Details
- 5,655 Sq Ft Lot
- Corner Lot
Home Design
- 12,500 Sq Ft Home
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 15 Bedrooms
- 10 Full Bathrooms
Parking
- 2 Car Parking Spaces
- Driveway
- Open Parking
Listing and Financial Details
- Assessor Parcel Number M:093 B:519 L:026
Community Details
Overview
- 10 Units
- Property has 1 Level
Amenities
- Shops
Building Details
- Insurance Expense $8,500
- Water Sewer Expense $360
- Operating Expense $8,860
- Net Operating Income $127,940
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 01/15/2025 01/15/25 | For Sale | $3,900,000 | -- | $312 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73326316
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