Multi-Family for Sale: 526 Western Ave, Lynn, MA 01904

43 beds
16 full baths
17,688 sqft
$4,000,000
$4,000,000
526 Western Ave, Lynn, MA 01904
43 beds
16 full baths
17,688 sqft
$4,000,000
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Price:
$4,000,000
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Type Multi-Family
Beds 43
Total Baths 16 full baths
Square Feet 17,688 sqft
Lot Size 0.13 acres
Year Built 1910
City Lynn
County Essex
MLS 73173826
Status Active
DOM 318 days
Listed at a 7.28% Cap Rate on current income, the asset is a four-story brick building contains sixteen (16) units comprised of eleven (11), 3-Bedroom/1-Bathroom units and five (5), 2-Bedroom/1-Bathroom units with 17,688 square feet of living area on a 0.13-acre corner parcel of land. The Property is well-located at the intersection of Western Avenue and Franklin Street and is 0.1-miles from Stop & Shop. The Property is situated along the edge of Downtown Lynn and is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities including Central Square, BayRidge Hospital, and North Shore Community College. 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. The option exists to potentially assume the existing debt at 4.04% interest rate.

Lot & Building Features

Heating Natural Gas
Sewer Public Sewer
Tax Year 2023
Taxes Paid $38,531
Water Public
Foundation Other
Roof Rubber
Full Baths 16
Total Rooms 75
Basement Feature Unfinished
Garage Spaces 0

Price History of 526 Western Ave, Lynn, MA

Date Name Price Difference
10/25/2023 Listing Price $4,000,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Photo of Heather Packard
Direct: 603-769-9168
Office
PO Box 101
Merrimack, NH 03054
603-787-3155
Listed by Horvath & Tremblay, Stephen Girolamo
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526 Western Ave (MLS #73173826) is a multi-family listing located in Lynn, MA. This multi-family listing is 17,688 sqft and on a lot of 5,662 sqft (or 0.13 acres) with 43 bedrooms, 16 baths and is 114 years old. This property was listed on 08/03/2024 and has been priced for sale at $4,000,000.

Nearby zip codes are 00000, 01901, 01902, 01905 and 01970. This property neighbors other cities such as Peabody, Revere, Salem, Saugus and Swampscott.

MLS PIN

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

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Listing information courtesy of: Horvath & Tremblay

The property listing data and information 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 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 set forth herein.