$3,800,000
SOLD OCT 28, 2024

303 Broadway Lynn, MA 01904

Parkland Avenue Neighborhood
29 Beds
17 Baths
12,528 Sq Ft
0.26 Acres

Recently Sold

$303 Per Sq Ft

5% Below List Price

14 Days on Market

Highlights

  • Golf Course Community
  • Property is near public transit
  • Park
  • Medical Services
  • Tennis Courts
  • 3-minute walk to Barkland Avenue Dog Park

About This Home

As of October 2024

303 Broadway is a three-story brick building containing 17 units comprised of (12) 2-Bedroom/1-Bathroom units and (5) 1-Bedroom/1-Bathroom units. The Property also features storage in the basement for tenants, an on-site laundry facility, and parking for 17 vehicles. The Property is separately metered for electricity and gas fired heat (hot water baseboard) which the tenants pay, the Landlord pays for common area electric, hot water, and domestic water and sewer. In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market.

Last Agent to Sell the Property

Dennis Kelleher

Horvath & Tremblay Listed on: 07/25/2024

Last Buyer's Agent

Steve Girolamo

Horvath & Tremblay

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $34,602

Year Built

  • Built in 1970

Lot Details

  • 0.26 Acre Lot
  • Near Conservation Area

Home Design

  • Brick Foundation
  • Shingle Roof

Interior Spaces

  • 12,528 Sq Ft Home
  • Property has 1 Level

Bedrooms and Bathrooms

  • 29 Bedrooms
  • 17 Full Bathrooms

Parking

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

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • Separate Meters

Listing and Financial Details

  • Total Actual Rent $27,810
  • Rent includes unit 1(heat water hot water), unit 2(heat water hot water)
  • Assessor Parcel Number 1988596

Community Details

Overview

  • 17 Units

Amenities

  • Medical Services
  • Shops
  • Coin Laundry

Recreation

  • Golf Course Community
  • Tennis Courts
  • Park

Building Details

  • Operating Expense $132,557
  • Net Operating Income $204,223

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$34,602

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5+ Family - 5+ Units Up/Down
  • Year Built: 1970
  • Buyer Agency: 2
  • Year Built Details: Actual
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 3

Interior Features

  • Fireplace YN: No
  • Total Bedrooms: 29
  • Full Bathrooms: 17
  • Total Bathrooms: 17
  • Total Bathrooms: 17
  • Living Area: 12528
  • Spa YN: No
  • Stories Total: 3
  • MAIN LO: AN2723
  • LIST PRICE PER Sq Ft: 319.28
  • PRICE PER Sq Ft: 303.32
  • MAIN SO: AN2723

Exterior Features

  • Foundation Details: Brick/Mortar
  • Home Warranty YN: No
  • Roof: Shingle
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street, Assigned
  • Total Parking Spaces: 17

Utilities

  • Sewer: Public Sewer
  • Electric: Individually Metered
  • Water Source: Public
  • Hot Water: Natural Gas

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Tennis Court(s), Park, Golf, Medical Facility, Laundromat, Conservation Area, Highway Access, House of Worship, Private School, Public School
  • Rent Includes: Unit 1(Heat,Water,Hot Water), Unit 2(Heat,Water,Hot Water)
  • Senior Community YN: No

Lot Info

  • Parcel Number: 1988596
  • Zoning: BD
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.26
  • Lot Size Area: 0.26
  • Lot Size Sq Ft: 11369
  • Lot Size Units: Acres
  • PAGE: 125
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2024
  • Tax Annual Amount: 34602
  • Tax Book Number: 17318

Multi Family

  • Gross Income: 336780
  • Net Operating Income: 204223
  • Number Of Units Total: 17
  • Operating Expense: 132557
  • Total Actual Rent: 27810
  • LEVELS 1: 1
  • Basement Included Sq Ft: Yes
  • LEVELS 2: 1
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 1
  • FLRS 2: 1

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Range of Values:

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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 Change Sq Ft Price
10/28/2024 10/28/24 Sold $3,800,000 -5.0% $303 / Sq Ft
08/09/2024 08/09/24 Pending -- -- --
07/25/2024 07/25/24 For Sale $4,000,000 -- $319 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Dennis Kelleher

    Seller's Agent in 2024

    Dennis Kelleher

    Horvath & Tremblay

    (781) 776-4002

    2 in this area

    58 Total Sales

    Section Image
  • Steve Girolamo

    Buyer's Agent in 2024

    Steve Girolamo

    Horvath & Tremblay

    (978) 406-1789

    2 in this area

    22 Total Sales

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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73269528

MLS Property Information Network (MLS PIN)

Massachusetts Essex County Lynn 01904 Parkland Avenue

303 Broadway, Lynn, MA

This home is located at 303 Broadway, Lynn, MA 01904 and is currently priced at $3,800,000, approximately $303 per square foot. This property was built in 1970. 303 Broadway is a home located in Essex County with nearby schools including Edward A. Sisson Elementary School, William R. Fallon School, and Pickering Middle School.

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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