116-124A Central Ave
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116-124A Central Ave
22 Unit Apartment Building $5,289,000 ($240,409/Unit) Lynn, MA 01910
Investment Highlights
- 18 residential apartments and 3 retail spaces generating monthly income.
Executive Summary
116-124 A Central, Lynn, MA is a prime mixed-use property featuring 18 residential apartments and 3 retail spaces in a highly convenient downtown location, steps from public transportation. Located in an Opportunity Zone, this property offers significant investment advantages. Recent renovations include repointing the front masonry wall, full lead compliance, replacement of three main sewer lines, and complete renovations of 2 commercial spaces and 12 apartments. Additionally, the building features coin-operated laundry in the basement, adding extra income potential. This well-maintained property is a standout investment in the heart of Lynn.
Property Facts
| Price | $5,289,000 | Building Class | C |
| Price Per Unit | $240,409 | Lot Size | 0.94 AC |
| Sale Type | Investment | Building Size | 13,736 SF |
| No. Units | 22 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid Rise |
| Price | $5,289,000 |
| Price Per Unit | $240,409 |
| Sale Type | Investment |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 13,736 SF |
| No. Stories | 4 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
Unit Amenities
- Oven
- Range
Site Amenities
- On-Site Retail
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | 600 |
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Walk Score ®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | LYNN-000068-000635-000002 | Improvements Assessment | $2,148,300 |
| Land Assessment | $1,804,000 | Total Assessment | $3,952,300 |
PROPERTY TAXES
Parcel Number
LYNN-000068-000635-000002
Land Assessment
$1,804,000
Improvements Assessment
$2,148,300
Total Assessment
$3,952,300
zoning
| Zoning Code | CBD (Stores & Residential) |
| CBD (Stores & Residential) |
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116-124A Central Ave
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