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7.5% CAP RATE on this 17-unit multifamily investment opportunity in the heart of Downtown Lynn. Spanning two well-maintained, three-story buildings directly across from one another, the property offers 14,637± square feet of living area and 19,702± square feet of total gross area. The asset features a highly desirable and balanced unit mix consisting of four (4) one-bedroom units, ten (10) two-bedroom units (including two townhome-style layouts), and two (2) townhome-style three-bedroom units and one (1) single-level three-bedroom unit, appealing to a broad tenant base and supporting long-term occupancy stability. Tenants are responsible for separately metered utilities which include heat and electric. Complemented by seven (7) off-street parking spaces, laundry hookups, and storage spaces for additional future revenue. This offering presents investors with a rare opportunity to acquire critical mass in a growing downtown location with strong fundamentals and upside potential.

More Info

Basic Information

  • Gross Income $447,780
  • Mls StatusUnder Agreement

Tax Information

  • Tax Assessed Value $9,999
  • Tax Year 2025
  • Taxes$35,484

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street, On Street
  • Parking Spaces7

Rooms

  • Bathroom17
  • Bathrooms Total Decimal 17
  • Bedrooms33
  • Full Bath17

Basic Information

  • List Price$4,050,000
  • MLS Number73481300
  • Modification Date05/09/2026
  • Property SubType5+ Family - 5+ Units Up/Down
  • Purchase Contract Date05/09/2026

Location

  • Address136-141A Franklin Street
  • Building Number136-141a
  • CountyEssex
  • StateMA
  • StreetFranklin Street
  • TownLynn
  • Zip01902

Building

  • BasementFull
  • Building Area Units Square Feet
  • FoundationConcrete Perimeter, Stone
  • Foundation Area 9999
  • Levels 3
  • Rooms67
  • Stories3
  • Units17
  • Year Built1988
  • Year Built Details Actual
  • Year Built Source Public Records

Property

  • Acreage0.24

Utilities

  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 14,637
  • Lot Size Square Feet 10,302
  • Lot Size Units Acres
  • Square Feet14,637

Amenities

  • AmenitiesPublic Transportation, Shopping
  • Other AmenitiesBasement

Legal

  • ZoningB

Other

  • Date Listed03/02/2026
  • Farm Land Area Units Square Feet
  • View Count6

Map Location

Driving Directions

Listed by Sara Pouladian of North Shore Realty Advisors

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