$495,000

423-427 Union St Lynn, MA 01901

Downtown Lynn Neighborhood

Estimated payment $2,962/month

Total Views 6,000
-- Bed
4 Baths
1,462 Sq Ft
$339 Price per Sq Ft

Highlights

  • Medical Services
  • 3-minute walk to Lynn
  • 1-minute walk to Lynn Heritage State Park
  • Property is near public transit
  • Shops

About This Home

Great opportunity to own and invest in Downtown Lynn. Located one block away from Lynn Station commuter rail stop. Prime spot for an owner occupant with either an office or apartment upstairs, and income-producing commercial tenants downstairs. Currently two retail units on the first floor, and office spaces in need of repairs on the second. The property is in the "Central Business District" zoning area, which is intended to support mixed-use development. Allows up to 10 stories by right, with opportunity for residential units atop ground-level commercial. Especially with close proximity to transit, an investment offers potential for maximum density and income, with a more streamlined approval process. Included in photos are initial architectural mock-ups of a 5-story building made up of two commercial units on the first floor (or one larger unit), and five residential units above consisting of three 2-BR apartments and two studios. These are not approved plans, just drawings.

Listing Agent

Chris McNamara

McNamara Realty, Inc. Listed on: 06/23/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,021

Year Built

  • Built in 1913

Home Design

  • Brick Exterior Construction
  • Rubber Roof

Interior Spaces

  • 4 Bathrooms
  • 1,462 Sq Ft Home
  • Property has 1 Level
  • Unfinished Basement

Additional Features

  • 832 Sq Ft Lot
  • Property is near public transit

Listing and Financial Details

  • Assessor Parcel Number 2003407

Community Details

Overview

  • 4 Units

Amenities

  • Medical Services
  • Shops

Building Details

  • Insurance Expense $3,071
  • Water Sewer Expense $800
  • Operating Expense $3,871
  • Net Operating Income $11,729

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,021

Year Built

Built in 1913

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 3 Family
  • Year Built: 1913
  • Levels: 4
  • Year Built Details: Actual
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • Special Features: None
  • Stories: 4

Interior Features

  • Fireplace YN: No
  • Half Bathrooms: 4
  • Total Bathrooms: 4
  • Total Bathrooms: 2
  • Basement: Unfinished
  • Above Grade Finished Sq Ft: 1462
  • Living Area: 1462
  • Spa YN: No
  • Stories Total: 4
  • MAIN LO: AN6977
  • LIST PRICE PER Sq Ft: 338.58
  • PRICE PER Sq Ft: 338.58

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Other
  • Home Warranty YN: No
  • Road Frontage Type: Public
  • Roof: Rubber
  • Waterfront Features: Bay, Ocean, 1/2 to 1 Mile To Beach, Beach Ownership(Public)
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Hot Water: Natural Gas

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Medical Facility, T-Station
  • Senior Community YN: No

Fee Information

  • Water Sewer Expenses: 800

Lot Info

  • Parcel Number: 2003407
  • Zoning: CBD
  • Farm Land Area Units: Square Feet
  • Lot Features: Other
  • Lot Size Acres: 0.02
  • Lot Size Area: 0.02
  • Lot Size Sq Ft: 832
  • Lot Size Units: Acres
  • PAGE: 234

Tax Info

  • Tax Year: 2025
  • Tax Annual Amount: 3021
  • Tax Book Number: 38990

Multi Family

  • Gross Income: 15600
  • Insurance Expense: 3071
  • Net Operating Income: 11729
  • Number Of Units Total: 4
  • Operating Expense: 3871
  • Total Actual Rent: 1300
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 4: 1
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 1
  • FLRS 4: 2
  • FLRS 3: 2
  • FLRS 2: 1

Map

Range of Values:

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Average Value
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List 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 Change Sq Ft Price
06/23/2025 06/23/25 For Sale $495,000 -- $339 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73395332

MLS Property Information Network (MLS PIN)

Massachusetts Essex County Lynn 01901 Downtown Lynn

423-427 Union St, Lynn, MA

This home is located at 423-427 Union St, Lynn, MA 01901 and is currently priced at $495,000, approximately $338 per square foot. This property was built in 1913. 423-427 Union St is a home located in Essex County with nearby schools including E.J. Harrington School, William R. Fallon School, and Fecteau-Leary Junior/Senior High 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.

Nearby Homes
Chris McNamara
Listing Agent
Chris McNamara
Section Image
McNamara Realty, Inc.
(339) 203-4312