Needhams Landing Apartments | 9 Needhams Landing Rd
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Needhams Landing Apartments 9 Needhams Landing Rd
42 Unit Apartment Building $12,200,000 ($290,476/Unit) Lynn, MA 01905
Executive Summary
One of a kind investment opportunity with 42 waterfront high end units. An easy commute to Boston, close to schools, The Encore Boston Harbor Casino, and the GE plant. These units are beautifully done with bamboo flooring, granite countertops, stainless steel appliances, custom cabinetry, air conditioning, and sliders leading to private balconies overlooking the water. There are a total of 16 Studios, 13 one bedroom, and 13 two Bedroom units with potential for a clubhouse or another 3 bedroom cottage. Strong rental history. The building itself has solar that powers the parking lot lighting, building halls, elevator, and complex lights. Plenty of off-street parking in this quiet part of town. Steps away from Little River and close to Nahant beach. These truly are residences for a modern lifestyle. There is a GOVT loan on the property that can be assumed at 3.99% fixed for 28 more years , Non Recourse , aprx bal $6.5mm and assumable as well.
Property Facts
| Price | $12,200,000 | Apartment Style | Mid Rise |
| Price Per Unit | $290,476 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.56 AC |
| No. Units | 42 | Building Size | 29,888 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 2015 |
| Price | $12,200,000 |
| Price Per Unit | $290,476 |
| Sale Type | Investment |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 29,888 SF |
| No. Stories | 5 |
| Year Built | 2015 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
| 1+1 | 12 | - | - |
| 2+1 | 20 | - | - |
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PROPERTY TAXES
| Parcel Number | LYNN-000019-000305-000025 | Improvements Assessment | $7,233,800 |
| Land Assessment | $3,520,000 | Total Assessment | $10,753,800 |
PROPERTY TAXES
Parcel Number
LYNN-000019-000305-000025
Land Assessment
$3,520,000
Improvements Assessment
$7,233,800
Total Assessment
$10,753,800
zoning
| Zoning Code | R4 |
| R4 |
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Needhams Landing Apartments | 9 Needhams Landing Rd
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