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You are here:
NEW
15 Photos
$4,000,000
17 Unit
29 Beds
17 Baths
12528 SQFT
0.26 Acre
303 Broadway
Lynn, MA 01904

Property Description

303 Broadway is a three-story brick building containing 17 units comprised of (12) 2-Bedroom/1-Bathroom units and (5) 1-Bedroom/1-Bathroom units. The Property also features storage in the basement for tenants, an on-site laundry facility, and parking for 17 vehicles. The Property is separately metered for electricity and gas fired heat (hot water baseboard) which the tenants pay, the Landlord pays for common area electric, hot water, and domestic water and sewer. In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market.

Property Overview

Property Details click or tap to expand

Building Information

  • Total Units: 17
  • Total Floors: 3
  • Total Bedrooms: 29
  • Total Full Baths: 17
  • Amenities: Conservation Area, Golf Course, Highway Access, House of Worship, Laundromat, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, Tennis Court

Financial

  • APOD Available: Yes
  • Gross Operating Income: 336780
  • Gross Expenses: 132557
  • Net Operating Income: 204223

Utilities

  • Electric Info: Individually Metered
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1970
  • Type: 5+ Family - 5+ Units Up/Down
  • Foundation Info: Brick
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: Certified Treated
  • Warranty: No

Other Information

  • MLS ID# 73269528
  • Last Updated: 07/25/24

Property History click or tap to expand

Date Event Price Price/Sq Ft Source
07/25/2024New$4,000,000$319MLSPIN

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View Breakdown

Seller's Representative: Dennis Kelleher, Horvath & Tremblay
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
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 2024-07-25 13:32:00