578 Chestnut Street

Lynn, MA 01904

$600,000
Last Sold Price
12
Beds
4
Baths
2
1/2 Baths
5,529 Sq. Ft.
$109 / Sq. Ft.
5,529
Sq. Ft.
$109
per Sq. Ft.

Description

Mixed Used Building, Fully Tenanted, many updates, excellent neighborhood location on busy Route #129A, 35,000 traffic velocity daily and 20 car Parking Lot. 4 Apartments - 5 Rooms, 3 Bedrooms, 1 Bath Units. One store and one office with separate bathrooms and C/A on floor one. Store pays percentage of commercial tax rate in addition to monthly rent. Important! New lending opportunity for Mixed Use Investment property. FHA offers 3.5% down program with up to $40,000 in renovation funds for the residential...Mixed Used Building, Fully Tenanted, many updates, excellent neighborhood location on busy Route #129A, 35,000 traffic velocity daily and 20 car Parking Lot. 4 Apartments - 5 Rooms, 3 Bedrooms, 1 Bath Units. One store and one office with separate bathrooms and C/A on floor one. Store pays percentage of commercial tax rate in addition to monthly rent. Important! New lending opportunity for Mixed Use Investment property. FHA offers 3.5% down program with up to $40,000 in renovation funds for the residential units and systems that support the residential portion of the property. Must be owner occupied...if you have a business, you can live over the store and let the rents pay the mortgage.

Property Details for 578 Chestnut Street

Town
Lynn
Area
MA-Lynn
Garage Spaces
0
Parking Spaces
20.00
Parking Spaces Total
20

Location

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LISTING UPDATED: 08/06/2022 05:48 AM

Property Details for 578 Chestnut Street

StatusSold
MLS #71543534
Days on Market263
Taxes$11,148 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built1900
CountyEssex County

Location

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Building Information for 578 Chestnut Street

Stories11Residences6Year Built1900Building Size-Lot Size0.16 AC / 7,095 SF

Payment Calculator

$4,203 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,274

Property Taxes

$929

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 578 Chestnut Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Swimming Pool, Tennis Court, Park, Laundromat, House of Worship, Private School, Public School, Sidewalks
  • Current Financing: Conv. Fixed
  • Living Area: 5529.0
  • Color: Beige
  • Total Units: 6
  • Waterfront: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Location/School
  • Grade School: Sisson
  • High School: Lynn English
  • Middle School: Pickering
Features
Interior Features
  • Appliances: Unit 1(Range), Unit 2(Range), Unit 3(Range), Unit 4(Range), Gas Water Heater, Utility Connections for Electric Range
  • Basement Features: Full, Bulkhead, Concrete Floor
  • Num of Baths: 6.0
  • Num of Full Baths: 4
  • Num of Half Baths: 2
  • Bathrooms Total Decimal: 5.00
  • Bathrooms Total Integer: 6
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood, Vinyl, Carpet
  • Interior Features: Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Unit 3 Rooms(Living Room, Unit 4 Rooms(Living Room
  • Window Features: Insulated Windows, Screens
Exterior Features
  • Construction: Frame, Brick
  • Exterior Features: Screens, Porch
  • Lot Description: Corner Lot
  • Patio And Porch Features: Porch
  • Roof Material: Tar/Gravel
  • Waterfront Features: Beach Front, Lake/Pond, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Off-Street
  • Parking Features: Off-Street
  • Parking Features: Off-Street
Utilities
  • Electric: Circuit Breakers, Individually Metered, Varies per Unit
  • Heating: Unit 1(Hot Water Baseboard, Gas), Unit 2(Hot Water Baseboard, Unit 3(Hot Water Baseboard, Unit 4(Hot Water Baseboard
  • Heating: Yes
  • Sewage District: Lynn
  • Sewer: City/Town Sewer
  • Utility Connections: for Electric Range
  • Water: Public
Property Information
Property Info
  • UFFI: No
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Road Responsibility: Public Maintained Road
  • Disclosures: 3 Apartment Units deleaded in 1988. No certificates on hand. Gross expenses include taxes.
Tax Information
  • Tax ID: 1992633
  • Assessments: $488,700
  • Block: 249
  • Book: 26278
  • Lot: 016
  • Map: 085
  • Tax Year: 2013
  • Zoning: R2
Building / Association Information
Living Characteristics
  • Beds Total: 12
  • Total Living Levels: 11
Other Building Characteristics
  • Foundation: Stone
  • Foundation Area: 1764.0
  • Cooling Units: 2
  • Cooling Zones: 2
  • Heat Units: 6
  • Heat Zones: 6
Income / Expenses
  • Electricity: $1,200.00
  • Annual Expenses Source: Owner, Other (See Remarks)
  • GOI: $71,280.00
  • Gross Scheduled Income: $2,920.00
  • Insurance: $3,100.00
  • GRE: $20,488
  • NOI: $50,792.00
  • Operating Expense: $20,488.00
  • WSE: $700.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 2
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 3
  • Lease U3: Y
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 3
  • Lease U4: Y
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $6,050.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2.0
  • Other Agent Compensation: 1.0

Property History for 578 Chestnut 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 578 Chestnut Street

Taxable ValueLand$287,600Additions$1,130,600Total$1,418,200
Home Facts
Baths5Total Finished SqFt5,529 SqFtAbove Grade Finished SqFt5,529 SqFtUnfinished Basement SqFt1,839 SqFtStories3Lot Size7,095 SqFtStyleOffice BuildingYear Built1900Year Renovated1902ZoningBDCountyESSEXAPNLYNN M:085 B:249 L:016

Schools near 578 Chestnut 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
Edward A. Sisson Elementary School
PublicPK to 5

William R Fallon
PublicK to 5

Pickering 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.

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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. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

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.