526 Western Ave
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526 Western Ave
16 Unit Apartment Building $4,000,000 ($250,000/Unit) 7.82% Cap Rate Lynn, MA 01904
Investment Highlights
- Walkable Downtown Location
- Transit Oriented Location
- Upside Potential
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multifamily investment property located at 526 Western Avenue in Lynn, Massachusetts (the “Property”). The 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. 526 Western Avenue is well-located in a densely populated residential neighborhood adjacent to downtown Lynn, with convenient access to both local and regional transportation, as well as retail amenities around Lynn’s Central Square. The Property is located just outside of Central Square, the primary commercial area in Downtown Lynn that offers convenient access to an array of “downtown” amenities, including retail, restaurants, entertainment, and public transportation. Additionally, The Property is 0.8 miles from the Central Square commuter rail station with services to Boston’s North Station, and 11 miles from Downtown Boston. The Property is a short walk from the Mosaic, a new, six-story, 147,500 square foot mixed-use development on 69 Baldwin Street. The ground floor includes 3,500 sf of retail and restaurant space, while floors two through six consist of 146 apartment units.
Property Facts
Price | $4,000,000 | Building Class | B |
Price Per Unit | $250,000 | Lot Size | 0.13 AC |
Sale Type | Investment | Building Size | 22,120 SF |
Cap Rate | 7.82% | No. Stories | 4 |
No. Units | 16 | Year Built | 1910 |
Property Type | Multifamily | Opportunity Zone |
Yes
|
Property Subtype | Apartment |
Price | $4,000,000 |
Price Per Unit | $250,000 |
Sale Type | Investment |
Cap Rate | 7.82% |
No. Units | 16 |
Property Type | Multifamily |
Property Subtype | Apartment |
Building Class | B |
Lot Size | 0.13 AC |
Building Size | 22,120 SF |
No. Stories | 4 |
Year Built | 1910 |
Opportunity Zone |
Yes |
Walk Score ®
Very Walkable (88)
PROPERTY TAXES
Parcel Number | LYNN-000054-000720-000009 | Improvements Assessment | $2,907,200 |
Land Assessment | $1,312,000 | Total Assessment | $4,219,200 |
PROPERTY TAXES
Parcel Number
LYNN-000054-000720-000009
Land Assessment
$1,312,000
Improvements Assessment
$2,907,200
Total Assessment
$4,219,200
zoning
Zoning Code | BD |
BD |
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526 Western Ave
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