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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

More Info

Basic Information

  • Gross Income $208,860
  • Lot Features Easements, Level
  • Mls StatusActive

Tax Information

  • Tax Assessed Value $1,350,000
  • Tax Year 2026
  • Taxes$16,911

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street, Assigned
  • Parking Spaces8

Rooms

  • Bathroom8
  • Bathrooms Total Decimal 8
  • Bedrooms14
  • Full Bath8

Basic Information

  • List Price$1,975,000
  • MLS Number73502739
  • Modification Date04/20/2026
  • Property SubType5-9 Family

Location

  • Address138 Franklin
  • Building Number138
  • CountyEssex
  • StateMA
  • StreetFranklin
  • TownLynn
  • Zip01902

Building

  • BasementFull, Partially Finished, Concrete
  • Building Area Units Square Feet
  • Construction Materials Frame
  • FoundationConcrete Perimeter
  • Foundation Area 2336
  • Levels 5
  • Rooms28
  • Stories5
  • Units8
  • Utilities For Gas Range, For Gas Oven
  • Window Features Insulated Windows
  • Year Built1988
  • Year Built Details Actual
  • Year Built Source Public Records

Property

  • Acreage0.17

Interior

  • Flooring Wood, Tile, Vinyl

Exterior

  • RoofRubber

Utilities

  • Electric Circuit Breakers, Individually Metered
  • Electric Expense 1490
  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 7,072
  • Lot Size Square Feet 7,479
  • Lot Size Units Acres
  • Square Feet7,072

Amenities

  • Amenities
    • Highway Access
    • Laundromat
    • Medical Facility
    • Park
    • Public School
    • Public Transportation
    • Shopping
    • T-Station
    • University
    • Walk/Jog Trails
  • Green Energy Efficient Varies per Unit
  • Other AmenitiesBasement

Legal

  • ZoningB

Other

  • Date Listed04/16/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Dan Pouladian of North Shore Realty Advisors

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