386 Summer St Lynn MA 01905 MLS #73161244

386 Summer St
Lynn, MA, 01905
$5,200,000
Beds
20 Baths
3,600 SqFt
0.39 Acres
$5,200,000
386 Summer St
Lynn, MA, 01905
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.

Property Details

Price:
$5,200,000
MLS #:
73161244
Status:
Active
Beds:
0
Baths:
20
Address:
386 Summer St
Type:
Commercial
City:
Lynn
Listed Date:
Sep 20, 2023
State:
MA
Finished Sq Ft:
3,600
Total Sq Ft:
3,600
ZIP:
01905
Lot Size:
16,988 sqft / 0.39 acres (approx)
Year Built:
1985

Schools

Interior

Exterior

Parking Spots
20
Roof
Shingle

Financial

Net Operating Income
$216,441
Tax Year
2023
Taxes
$45,000
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Marie Andrews

Marie Andrews

Realtor®, Broker/Owner, GBREB, Notary Public

Marie Andrews is an award-winning, licensed real estate broker with licenses in Massachusetts and Florida. She has been selling real estate in the greater Boston area for over 20 years. Over the past two decades, Marie has worked for Century 21 Advanced Realty, building a reputation as a multi-million dollar producer. She has developed an extensive network of investors, lenders, and attorneys. Marie has a wide knowledge base on property management, Massachusetts real estate law, and building…

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Courtesy of Coldwell Banker Realty – Lynnfield. 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.
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386 Summer St
Lynn, MA