NOT LISTED FOR SALE

5 Seaside Terrace Lynn, MA 01902

Diamond District Neighborhood

Estimated Value: $972,000 - $1,050,000

7 Beds
3 Baths
3,026 Sq Ft
$333/Sq Ft Est. Value

Last Sold October 08, 2021

Last sale price $810,000 $268 Per Sq Ft

Est. 25% increase in value since last sale

Current estimated payment $6,048/month

35 Days on Market

About This Home

As of October 2021

Investors take notice! Welcome to 5 Seaside Ter, a highly sought after undervalued, fully tenanted property located on the Lynn/Swampscott line less than half a block from the ocean. This well maintained 3-family property offers a total of seven bedrooms with one bathroom per unit. The units boast gleaming hardwood floors and/or wall-to-wall carpet, a full eat-in kitchen with serene ocean top unit view. The entire building has been well maintained for years, with fresh vinyl siding and a clean outdoor space, easy for any investor to step in and add this to their portfolio. Steps to the beach, close to Boston.

Last Agent to Sell the Property

Katie DiVirgilio

RE/MAX 360 Listed on: 07/15/2021

RE/MAX 360

Last Buyer's Agent

Kurt Coleman

Coldwell Banker Realty - Brookline

Coldwell Banker Realty - Brookline

Property Details

Home Type

  • Multi-Family

Year Built

  • 1870

Lot Details

  • 4,792

Additional Features

  • Property has 1 Level
  • 3 Heating Zones

Property Details

Home Type

Multi-Family

Year Built

1870

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Triplex
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Gross/Full Sale Price
  • APOD AVAILABLE: Yes
  • Directions: Lewis St to Ocean St. to Seaside Terrace. Eastern Avenue to New Ocean St. to Ocean St. to Seaside
  • Garage Yn: No
  • Road Frontage Type: Public
  • Year Built Details: Approximate
  • Special Features: None
  • Year Built: 1870

Interior Features

  • Appliances: Unit 1(Range,Refrigerator), Unit 3(Range,Refrigerator), Oil Water Heater, Utility Connections for Electric Range, Utility Connections for Electric Oven
  • Has Basement: Full, Concrete
  • MAIN LO: AN4305
  • MAIN SO: AN0907
  • Full Bathrooms: 3
  • Total Bedrooms: 7
  • Fireplace: No
  • Flooring: Wood,Carpet, Unit 1(undefined), Unit 3(Wall to Wall Carpet)
  • Interior Amenities: Unit 1(Bathroom With Tub & Shower), Unit 1 Rooms(Living Room,Dining Room,Kitchen), Unit 3 Rooms(Living Room,Dining Room,Kitchen)
  • Stories: 6

Exterior Features

  • Roof: Shingle
  • Exterior Features: Unit 3 Balcony/Deck
  • Foundation Details: Stone
  • Construction Type: Frame
  • Disclosures: Buyers And Buyers Agent To Do Own Due Diligence
  • Lot Features: Level
  • Patio And Porch Features: Porch, Deck
  • Waterfront Features: Beach Front, Beach Access, Ocean, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
  • Waterfront: Yes

Garage/Parking

  • Parking Features: On Street
  • Open Parking: Yes

Utilities

  • Cooling: Unit 1(Window AC), Unit 3(Window AC)
  • Heating: Unit 1(Hot Water Baseboard), Unit 3(Hot Water Baseboard)
  • SEWAGE DISTRICT: LWS
  • HEAT UNITS: 3
  • HEAT ZONES: 3
  • Cooling Y N: Yes
  • Electric: 200+ Amp Service
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: for Electric Range, for Electric Oven
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Walk/Jog Trails, Marina, T-Station, University
  • HOA Rent Includes: Unit 1(Water), Unit 3(Water)

Fee Information

  • Annual Water Sewer Expense: 2991

Lot Info

  • LOT SIZE: 4885
  • Farm Land Area Units: Square Feet
  • Lot Size Sq Ft: 4791.6
  • Zoning: R4

Multi Family

  • LEVELS 1: 1
  • LEVELS 3: 1
  • LEASE 3: N
  • LEASE 2: Y
  • LEASE 1: N
  • FLRS 3: 3
  • Electric Expense: 486
  • Annual Gross Income: 51000
  • Insurance Expense: 3078
  • Property Net Operating Income: 34798
  • Number Of Units Total: 3
  • Annual Operating Expense: 16202
  • Total Actual Rent: 4250

Tax Info

  • Tax Annual Amount: 8177.63
  • Tax Block: 552
  • Tax Book Number: 24571
  • Tax Lot: 005
  • Tax Map Number: 102
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 14, 2022
Sold by
Graham Michael J
Bought by
5 Seaside Terrace Llc
Current Estimated Value
$1,008,875

Purchase Details

Listed on
Jul 15, 2021
Closed on
Oct 7, 2021
Sold by
Seaside Llc
Bought by
Graham Michael J
Seller's Agent
Katie DiVirgilio
RE/MAX 360
Buyer's Agent
Kurt Coleman
Coldwell Banker Realty - Brookline
List Price
$839,900
Sold Price
$810,000
Premium/Discount to List
-$29,900
-3.56%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.35%
Original Mortgage
$607,500
Interest Rate
2.8%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 12, 2005
Sold by
Schiraldi Marie Elena and Roiter Benjamin
Bought by
Gilberg Robert P

Purchase Details

Closed on
Jul 2, 2004
Sold by
Roiter Benjamin
Bought by
Schiraldi Marie Elena
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
5 Seaside Terrace Llc -- None Available
5 Seaside Terrace Llc -- None Available
5 Seaside Terrace Llc -- None Available
Graham Michael J $810,000 None Available
Graham Michael J $810,000 None Available
Gilberg Robert P $200,000 --
Gilberg Robert P $200,000 --
Schiraldi Marie Elena -- --
Schiraldi Marie Elena -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Graham Michael J $607,500
Previous Owner Schiraldi Marie Elena $175,000
Previous Owner Schiraldi Marie Elena $185,000
Previous Owner Schiraldi Marie Elena $180,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/08/2021 10/08/21 Sold $810,000 -3.6% $268 / Sq Ft
08/19/2021 08/19/21 Pending -- -- --
07/15/2021 07/15/21 For Sale $839,900 -- $278 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,960 $864,900 $198,100 $666,800
2024 $9,148 $868,800 $209,900 $658,900
2023 $8,722 $782,200 $194,500 $587,700
2022 $7,913 $636,600 $146,700 $489,900
2021 $8,178 $627,600 $144,000 $483,600
2020 $7,686 $573,600 $129,000 $444,600
2019 $7,638 $534,100 $131,500 $402,600
2018 $7,214 $476,200 $134,500 $341,700
2017 $7,103 $455,300 $128,000 $327,300
2016 $6,762 $417,900 $125,400 $292,500
2015 $6,365 $380,000 $129,800 $250,200
Source: Public Records

Agents Affiliated with this Home

  • Katie DiVirgilio

    Seller's Agent in 2021

    Katie DiVirgilio

    RE/MAX

    (617) 285-9847

    17 in this area

    260 Total Sales

    Katie DiVirgilio
    Section Image

  • K

    Buyer's Agent in 2021

    Kurt Coleman

    Coldwell Banker Realty - Brookline

    (617) 487-8015

    1 in this area

    14 Total Sales

    Kurt Coleman
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72865988

MLS Property Information Network (MLS PIN)

APN: LYNN-000102-000552-000005

Massachusetts Essex County Lynn 01902 Diamond District

5 Seaside Terrace, Lynn, MA

Not Listed for Sale

MultiFamily

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