NOT LISTED FOR SALE

7 Fortesque Terrace Lynn, MA 01902

Fayette Street Neighborhood
18 Beds
12 Baths
8,400 Sq Ft
9,693 Sq Ft Lot

Last Sold October 26, 2023

Last sale price $2,343,200 $279 Per Sq Ft

13 Days on Market

Highlights

  • 0.22 Acre Lot
  • Level Lot
  • 3-minute walk to Goldfish Pond Park
  • Heating System Uses Steam

About This Home

As of October 2023

Don't miss out on this unique investment opportunity that consists of twelve total units in the form of two - six unit buildings on one parcel of land on a dead end street in Lynn. The first building, nicknamed "the little building" by the current owners, consists of six - one bedroom apartments and two different layouts. The second building, nicknamed "the big building" by the current owners, consists of six (large) - two bedroom apartments and all have the same, or very similar, layouts. Excellent location near restaurants, convenience stores, public transportation, under one mile to the beach, and more. This is a desirable rental neighborhood making this an appealing investment for any investor looking to add to their portfolio.

Last Agent to Sell the Property

Nick Cowden

Compass Listed on: 07/25/2023

Compass

Last Buyer's Agent

Lien Vuong

Berkshire Hathaway HomeServices Commonwealth Real Estate

Berkshire Hathaway HomeServices Commonwealth Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $23,865

Year Built

  • Built in 1900

Lot Details

  • 9,693 Sq Ft Lot
  • Level Lot

Home Design

  • Brick Foundation
  • Stone Foundation

Interior Spaces

  • 8,400 Sq Ft Home
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 12 Full Bathrooms

Utilities

  • Heating System Uses Steam

Listing and Financial Details

  • Total Actual Rent $7,050

Community Details

Overview

  • 12 Units
  • Property has 1 Level

Building Details

  • Operating Expense $75,484
  • Net Operating Income $127,316

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$23,865

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5+ Family - 5+ Units Up/Down
  • Year Built: 1900
  • Buyer Agency: 2
  • Transaction Broker: 1
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: Other
  • Special Features: None
  • Stories: 6

Interior Features

  • Interior Amenities: Other (See Remarks)
  • Fireplace YN: No
  • Total Bedrooms: 18
  • Full Bathrooms: 12
  • Total Bathrooms: 12
  • Total Bathrooms: 12
  • Basement: Full, Unfinished
  • Living Area: 8400
  • Spa YN: No
  • Stories Total: 6
  • MAIN LO: AN2383
  • LIST PRICE PER Sq Ft: 285.71
  • PRICE PER Sq Ft: 278.95
  • MAIN SO: AN6527

Exterior Features

  • Foundation Details: Stone, Brick/Mortar
  • Home Warranty YN: No
  • Waterfront Features: Beach Front, 1/2 to 1 Mile To Beach
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No

Utilities

  • Sewer: Public Sewer
  • Heating: Steam
  • Heating YN: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community YN: No

Lot Info

  • Zoning: R4
  • Farm Land Area Units: Square Feet
  • Lot Features: Level
  • Lot Size Acres: 0.22
  • Lot Size Area: 0.22
  • Lot Size Sq Ft: 9693
  • Lot Size Units: Acres
  • PAGE: 602
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 23865
  • Tax Book Number: 16306

Multi Family

  • Gross Income: 202800
  • Net Operating Income: 127316
  • Number Of Units Total: 12
  • Operating Expense: 75484
  • Total Actual Rent: 7050
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 4: 1
  • LEVELS 2: 1
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 1: 1
  • FLRS 4: 1
  • FLRS 2: 2

Range of Values:

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Average Value
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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 Change Sq Ft Price
10/26/2023 10/26/23 Sold $2,343,200 -2.4% $279 / Sq Ft
08/08/2023 08/08/23 Pending -- -- --
07/25/2023 07/25/23 For Sale $2,400,000 -- $286 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Nick Cowden

    Seller's Agent in 2023

    Nick Cowden

    Compass

    (781) 307-2726

    1 in this area

    50 Total Sales

    Nick Cowden
    Section Image
  • Lien Vuong

    Buyer's Agent in 2023

    Lien Vuong

    Berkshire Hathaway HomeServices Commonwealth Real Estate

    (781) 244-2669

    1 in this area

    198 Total Sales

    Lien Vuong
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73140558

MLS Property Information Network (MLS PIN)

Massachusetts Essex County Lynn 01902 Fayette Street

7 Fortesque Terrace, Lynn, MA

This home is located at 7 Fortesque Terrace, Lynn, MA 01902 since 25 July 2023. This property was built in 1900. 7 Fortesque Terrace is a home located in Essex County with nearby schools including E.J. Harrington School, William R. Fallon School, and Marshall 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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