138 Franklin St

7,072 Sq. Ft.
$279 / Sq. Ft.
7,072
Sq. Ft.
$279
per Sq. Ft.

Description

Rare opportunity to acquire a well-maintained 8-unit asset, constructed in 1988, offering an attractive mix of renovated units and strong in-place cash flow. The property features four (4) one-bedroom units, two (2) townhouse-style two-bedroom units, and two (2) townhouse-style three-bedroom units. All units offer open-concept layouts with breakfast bars overlooking the living and dining areas. Kitchens have been renovated, and bathrooms are outfitted with durable vinyl surrounds, minimizing ongoing...Rare opportunity to acquire a well-maintained 8-unit asset, constructed in 1988, offering an attractive mix of renovated units and strong in-place cash flow. The property features four (4) one-bedroom units, two (2) townhouse-style two-bedroom units, and two (2) townhouse-style three-bedroom units. All units offer open-concept layouts with breakfast bars overlooking the living and dining areas. Kitchens have been renovated, and bathrooms are outfitted with durable vinyl surrounds, minimizing ongoing maintenance. Additional tenant amenities include individual storage units, in-building laundry connections, and off-street parking. Located along multiple public transportation routes and within close proximity to area amenities, the property benefits from strong rental demand. The asset is currently offered at a 7.25% capitalization rate on in-place income, and offers investors upside to increase rents moving forward. Also available as a package MLS#:73481300
  1. Listed by Dan Pouladian • North Shore Realty Advisors
  2. Listed by Sara Pouladian • North Shore Realty Advisors

Property Details for 138 Franklin Street

Town
Lynn
Area
MA-Lynn
Garage Spaces
0
Open Parking Spaces
8.00
Parking Spaces Total
8
LISTING UPDATED: 04/20/2026 03:06 AM

Property Details for 138 Franklin Street

StatusActive
MLS #73502739
Days on Market32
Taxes$16,911 / year
HOA Fees-
Property TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built1988
CountyEssex County

Location

Listing Courtesy of North Shore Realty Advisors, Dan Pouladian; North Shore Realty Advisors, Sara Pouladian
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Building Information for 138 Franklin Street

Stories5Residences8Year Built1988Building Size-Lot Size0.17 AC / 7,479 SF

Payment Calculator

$11,251 per month

30 year fixed, 6.36% Interest

Principal and Interest

$9,842

Property Taxes

$1,409

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 138 Franklin Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, Public School, T-Station, University
  • Living Area: 7072.0
  • Color: Green
  • SqFt with Basement: No
  • Total Units: 8
  • Waterfront: No
  • Year Built Details: Actual
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Full, Partially Finished, Concrete Floor
  • Num of Baths: 8.0
  • Num of Full Baths: 8
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 8.00
  • Bathrooms Total Integer: 8
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood, Tile, Vinyl
  • SpaYN: No
  • Window Features: Insulated Windows
Exterior Features
  • Construction: Frame
  • Lot Description: Easements, Level
  • Roof Material: Rubber
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive, Off-Street, Assigned
  • Open Parking: Yes
  • Parking Features: Paved Drive, Off-Street, Assigned
  • Parking Features: Off-Street, Assigned
Utilities
  • Electric: Circuit Breakers, Individually Metered
  • Green Energy Efficient: Varies per Unit
  • Sewer: City/Town Sewer
  • Utility Connections: for Gas Range, for Gas Oven
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
Tax Information
  • Assessments: $1,350,000
  • Book: 40653
  • Tax Year: 2026
  • Zoning: B
Building / Association Information
Living Characteristics
  • Beds Total: 14
  • Total Living Levels: 5
Other Building Characteristics
  • Foundation: Concrete Perimeter
  • Foundation Area: 2336.0
  • Levels: 5
  • Cooling Units: 0
  • Cooling Zones: 0
  • Heat Units: 8
  • Heat Zones: 8
Income / Expenses
  • Electricity: $1,490.00
  • Annual Expenses Source: Estimated, Owner
  • GOI: $208,860.00
  • Gross Scheduled Income: $.00
  • Insurance: $7,200.00
  • GRE: $35,562
  • HTE: $0
  • MGF: $9,921
  • RFS: $4,644
  • RME: $5,200
  • NOI: $45,618.00
  • Operating Expense: $35,562.00
  • WSE: $7,107.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: N
  • Levels U2: 2
Unit 3 Description
  • Floor U3: 2
  • Levels U3: 2
Rental Info
Rental Info
  • Total Actual Rent: $17,405.00

Property History for 138 Franklin Street

DateEvent & SourcePriceAppreciation
Apr 16, 2026

Listed (Active)

MLS PIN #73502739

$1,975,000
DateEvent & SourcePrice
04/16/2026

Listed (Active)

MLS PIN #73502739

$1,975,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 138 Franklin Street

This home is within Lynn School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - K to 5
Public - 6 to 8
Public - 6 to 12
Rating
School
Distance
Cobbet Elementary School
PublicPK to 5

William R Fallon Elementary School
PublicK to 5

Breed Middle School
Public6 to 8

Fecteau-Leary Junior/Senior High School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

138 Franklin Street is a multi-family home for sale in Lynn, MA 01902. This property was listed for sale on April 16, 2026 by North Shore Realty Advisors, it's currently listed at $1,975,000. This listing's school district is Lynn School District. Nearby schools include Cobbet Elementary School, William R Fallon Elementary School and Breed Middle School. 138 Franklin Street is a 14-bed, 8-bath, 7,072 sqft multi-family home built in 1988.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of North Shore Realty Advisors, Dan Pouladian; North Shore Realty Advisors, Sara Pouladian

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, 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., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.