NOT LISTED FOR SALE

349-351 Summer St Lynn, MA 01905

Central Lynn Neighborhood
14 Beds
4 Baths
5,335 Sq Ft
8,081 Sq Ft Lot

Last Sold January 11, 2023

Last sale price $850,000 $159 Per Sq Ft

2 Days on Market

Highlights

  • 0.19 Acre Lot
  • Cokato Elementary School Rated 10
  • Porch

About This Home

As of January 2023

Must-see fabulous investment opportunity with terrific upside. This four-unit multi-family offers 2 recently-renovated units (349 Summer St. units 1 & 3), 4 off-street parking spots and shared in-building laundry (basement) in central Lynn location close to Boston Logan International Airport, Revere Beach, parks and public transportation, shops, restaurants and more. First floor units are both 2-3 bedroom with spacious layouts and good flow. Top two units are duplex units with 4 bedrooms, good layouts, and wood floors. Increased income potential. Open House Sat & Sun 2-3:30pm, Mon 4-5pm

Last Agent to Sell the Property

Stewart Silvestri

Gibson Sotheby's International Realty Listed on: 11/03/2022

Gibson Sotheby's International Realty

Last Buyer's Agent

Shannon Henderson

eXp Realty

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,439

Year Built

  • Built in 1890 | Remodeled

Lot Details

  • 8,081

Home Design

  • 5,335 Sq Ft Home

Kitchen

  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 4 Full Bathrooms

Parking

  • 4 Car Parking Spaces
  • Driveway
  • Paved Parking
  • Open Parking
  • Off-Street Parking

Additional Features

  • Porch
  • 8,081 Sq Ft Lot
  • Unfinished Basement

Listing and Financial Details

  • Total Actual Rent $6,700
  • Rent includes unit 1(water), unit 2(water), unit 3(water), unit 4(water)
  • Assessor Parcel Number M:052 B:740 L:025,2006304

Community Details

Overview

  • 4 Units
  • Property has 1 Level

Building Details

  • Electric Expense $600
  • Insurance Expense $5,297
  • Water Sewer Expense $2,400
  • Operating Expense $8,477
  • Net Operating Income $71,923

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,439

Year Built

Built in 1890 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 4 Family
  • Property Condition: Unit 1 Remodeled, Unit 3 Remodeled
  • Year Built: 1890
  • Dual Variable: Yes
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: VirtualTour
  • Stories: 6

Interior Features

  • Flooring: Unit 1(undefined)
  • Interior Amenities: Unit 1(Bathroom With Tub & Shower), Unit 3(Ceiling Fans,Bathroom With Tub & Shower), Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen), Unit 3 Rooms(Kitchen,Family Room), Unit 4 Rooms(Kitchen,Family Room)
  • Fireplace YN: No
  • Appliances: Unit 1(Range,Dishwasher,Microwave,Refrigerator), Unit 2(Range,Dishwasher,Microwave,Refrigerator), Unit 3(Range,Dishwasher,Microwave,Refrigerator), Unit 4(Range,Refrigerator)
  • Total Bedrooms: 14
  • Full Bathrooms: 4
  • Total Bathrooms: 4
  • Basement: Unfinished
  • Living Area: 5335
  • Stories Total: 6
  • MAIN LO: AN1593
  • MAIN SO: BB3298

Exterior Features

  • Foundation Details: Other
  • Patio And Porch Features: Porch
  • Road Frontage Type: Public
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street, Paved
  • Total Parking Spaces: 4

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Rent Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)

Fee Information

  • Water Sewer Expenses: 2400

Lot Info

  • Parcel Number: M:052 B:740 L:025,2006304
  • Zoning: BD
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.19
  • Lot Size Sq Ft: 8081
  • Lot Size Units: Acres
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 12439

Multi Family

  • Electric Expense: 600
  • Insurance Expense: 5297
  • Net Operating Income: 71923
  • Number Of Units Total: 4
  • Operating Expense: 8477
  • Total Actual Rent: 6700
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 4: 2
  • LEVELS 3: 2
  • LEASE 4: N
  • LEASE 3: Y
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 3: 2

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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List Price
Sold Price
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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
01/11/2023 01/11/23 Sold $850,000 +6.4% $159 / Sq Ft
11/06/2022 11/06/22 Pending -- -- --
11/03/2022 11/03/22 For Sale $799,000 -- $150 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Stewart Silvestri

    Seller's Agent in 2023

    Stewart Silvestri

    Gibson Sotheby's International Realty

    (617) 733-5747

    1 in this area

    169 Total Sales

    Stewart Silvestri
    Section Image
  • Shannon Henderson

    Buyer's Agent in 2023

    Shannon Henderson

    eXp Realty

    (617) 710-0929

    1 in this area

    71 Total Sales

    Shannon Henderson
    Section Image
See All Agents

Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73055272

MLS Property Information Network (MLS PIN)

APN: LYNN M:052 B:740 L:025

Massachusetts Essex County Lynn 01905 Central Lynn

349-351 Summer St, Lynn, MA

Not Listed for Sale

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