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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
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)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

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
  • Listing ID: 29877768

  • Date on Market: 10/25/2023

  • Last Updated:

  • Address: 526 Western Ave, Lynn, MA 01904

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