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You are here:
230 Days on Boston Pads
Price Reduced $400,000
18 Photos
$5,200,000
Type: 5+ Residential
Lease Type N/A
3600 Bldg. SQFT
20 Restroom
Parking: N/A
386 Summer St
Lynn, MA 01905

Property Description

This is your opportunity to own 20 approved condos, With 2 Bedrooms 1 Bath in every unit . Currently utilized as rental apartments. Several units have been updated, featuring modern kitchens, granite or formica countertops, an array of flooring including hardwood, laminate, tile and carpet. Additionally, the convenience of in-unit laundry hook-ups, 20 parking spaces and so much more. With a substantial monthly rental roll of $30,000 and the potential for future rent adjustments, this offering presents an ideal opportunity for savvy investors seeking a high-quality asset poised for growth. Perfectly situated with easy access to the T Station and several bus lines, and in close proximity to many shops and malls, this property seamlessly combines convenience and quality, making it a compelling investment prospect. Please call for appt.

Property Overview

Property Details click or tap to expand

Property Information

  • Type: 5+ Residential
  • Location: Legal Conforming
  • MLS ID#: 73161244

Financial

  • Gross Annual Expenses: 325000
  • Gross Annual Income: 415000
  • Net Operating Income: 216441

Building Information

  • Total SQFT: 3600
  • Total Restrooms: 20

Construction & Utilities

  • Utilities: Natural Gas, Public Sewer, Public Water

Mortgage Calculator

View Breakdown

Seller's Representative: Louise Touchette Team, Coldwell Banker Realty - Lynnfield
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2
Facilitator Compensation: 2
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2024-03-09 13:53:00