44 Essex Street

Lynn, MA 01902

$1,700,000
Price
9
Beds
4
Baths
4,131 Sq. Ft.
$412 / Sq. Ft.
4,131
Sq. Ft.
$412
per Sq. Ft.

Description

MASH-certified apartment building on the Lynn/Swampscott line, providing beds for 17 clients plus a live-in manager. Each floor is self-contained with a private kitchen, living room, den, and bathroom. First floor 6 rooms / 2 bedrooms, second floor 6 rooms / 3 bedrooms, third floor 6 rooms / 4 bedrooms. All bedrooms are double occupancy and 100% occupied at $795 monthly rent per bed. Conveniently located on a bus line with shops across the street. Upgraded heating and hot water systems installed...MASH-certified apartment building on the Lynn/Swampscott line, providing beds for 17 clients plus a live-in manager. Each floor is self-contained with a private kitchen, living room, den, and bathroom. First floor 6 rooms / 2 bedrooms, second floor 6 rooms / 3 bedrooms, third floor 6 rooms / 4 bedrooms. All bedrooms are double occupancy and 100% occupied at $795 monthly rent per bed. Conveniently located on a bus line with shops across the street. Upgraded heating and hot water systems installed within the last two years. The roof is less than 10 years old. Turnkey opportunity. Off-street parking, fenced-in backyard, rear decks off of each floor. Quiet family neighborhood. The property is in very good shape with nothing left to do. Cap Rate 8.24%, Cash On Cash Return 12.4%. Owner financing provided.
  1. Listed by Raymond R. Clements • Investment Property Advisors

Property Details for 44 Essex Street

Town
Lynn
Area
MA-Lynn
Garage Spaces
0
Parking Spaces
4.00
Parking Spaces Total
4

Location

Listing Courtesy of Investment Property Advisors, Raymond R. Clements
Add your commute
LISTING UPDATED: 04/14/2024 03:09 AM

Property Details for 44 Essex Street

StatusActive
MLS #73222386
Days on Market19
Taxes$9,078 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 4 Family - 4 Units Up/Down
Year Built1890
CountyEssex County

Location

Listing Courtesy of Investment Property Advisors, Raymond R. Clements
Add your commute

Building Information for 44 Essex Street

Stories3Residences4Year Built1890Building Size-Lot Size0.11 AC / 5,000 SF

Payment Calculator

$10,034 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,278

Property Taxes

$757

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 44 Essex Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Living Area: 4131.0
  • SqFt with Basement: No
  • Total Units: 4
  • Waterfront: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Num of Baths: 4.0
  • Num of Full Baths: 4
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 4.00
  • Bathrooms Total Integer: 4
  • FireplaceYN: No
  • Fireplaces: 0
  • SpaYN: No
Exterior Features
  • Lot Description: Level
Parking Features
  • Covered Spaces: .00
  • Garage: No
Utilities
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
Tax Information
  • Tax ID: 1997764
  • Assessments: $814,200
  • Book: 429
  • Tax Year: 2023
  • Zoning: R1
Building / Association Information
Living Characteristics
  • Beds Total: 9
  • Total Living Levels: 3
Other Building Characteristics
  • Foundation: Concrete Perimeter
Income / Expenses
  • GOI: $95,508.00
  • NOI: $95,508.00
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: Y
  • Levels U2: 1
Rental Info
Rental Info
  • Total Actual Rent: $13,515.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 1.5
  • Other Agent Compensation: 1

Property History for 44 Essex Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 44 Essex Street

Taxable ValueLand$192,900Additions$766,700Total$959,600
Tax Record2024$10,105 ($842 / month)
Home Facts
Baths4Total Finished SqFt4,131 SqFtAbove Grade Finished SqFt4,131 SqFtUnfinished Basement SqFt1,377 SqFtStories3Lot Size5,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1890ZoningR1CountyESSEXAPNLYNN M:104 B:429 L:002

Schools near 44 Essex Street

This home is within Lynn School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - 6 to 8
Public - 6 to 12
Rating
School
Distance
William R Fallon
PublicK to 5

Ingalls Elementary School
PublicK to 5

Thurgood Marshall 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

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44 Essex Street is a multi-family home for sale in Lynn, MA 01902. This property was listed for sale on April 10, 2024 by Investment Property Advisors, it's currently listed at $1,700,000. It has been on the market for a total of 19 days and was last sold on June 6, 2003. This listing's school district is Lynn School District. Nearby schools include William R Fallon, Ingalls Elementary School and Thurgood Marshall Middle School. 44 Essex Street is a 9-bed, 4-bath, 4,131 sqft multi-family home built in 1890.

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Investment Property Advisors, Raymond R. Clements

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.