Three-Unit Property with
For Sale
$999,000
Pending
9 S Elm St, Lynn, MA 01905
Residential Income, Lynn, MA
Property Size3,613 SF
Lot Size0.09 Acres
Days on Market28
Property Features for 9 S Elm St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 3, Bedroom 8, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 9, Bedroom 1, Bathroom 1, Bedroom 3
Parking
8
Directions
Summer Street to South Elm Street
Standard status
Pending
APN
M:036 B:774 L:007,2007253
Size
3,613 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8608
Amenities
private decks
basement storage
detached accessory building
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 24 at 9:06AM
MLS# 73552930
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,613-square-foot triplex, built in 1900 on 0.091 acres, contains three apartments with three bedrooms and a bonus room apiece. Each unit includes separate living and dining areas, private deck space, hardwood flooring, and updated electrical service. The second and third apartments each have two full bathrooms.
The property includes six off-street parking spaces, basement storage, and a detached accessory structure with plumbing and electricity. The additional building can support storage, workshop, studio, or hobby use. Lead compliance certificates are available for Units 1 and 2. The R4-zoned property is located near shopping, public transportation, and major commuter routes at 9 S Elm St in Lynn, Massachusetts.
The property includes six off-street parking spaces, basement storage, and a detached accessory structure with plumbing and electricity. The additional building can support storage, workshop, studio, or hobby use. Lead compliance certificates are available for Units 1 and 2. The R4-zoned property is located near shopping, public transportation, and major commuter routes at 9 S Elm St in Lynn, Massachusetts.
Key Highlights
- Three apartments, each with 3 bedrooms and a bonus room
- 3,613 SF triplex on a 0.091‑acre lot; built in 1900
- Private decks, separate living and dining rooms, hardwood floors, and updated electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,615
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,452,300
$1.5M
Cap Rate 7%
$1,037,357
$1.0M
Cap Rate 9%
$806,833
$806.8K
Market Conditions
NOI Build-Up for 3,613 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$110.6K $30.60/SF
− Vacancy
−$6.8K −$1.89/SF
EGI
$103.7K $28.71/SF
− OpEx
−$31.1K −$8.61/SF
NOI
$72.6K $20.10/SF
Area
Lynn, MA
Vacancy
6.17%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,452,300
Cap Rate 7%
$1,037,357
Cap Rate 9%
$806,833
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.7K – $1.21M
NOI $72,615 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$901.4K
$788.7K – $1.05M
NOI $63,097 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,487 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
Explore this area
Business Placement
Demographics for 01905, MA
27,761
Population
9,583
Households
2.9
Avg Household Size
34
Median Age
21%
College-Educated
79%
High-School Grad
3.1 sq mi
ZIP Area
8,955
Density / Sq Mi
$84,341
Median Household Income
$42,983
Median Earnings
$1,749
Median Rent
$443,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - R4-zoned multifamily property with six off-street parking spaces and a detached utility-equipped accessory building.
Where is this triplex located?
The property is located at 9 S Elm St Lynn, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three apartments, each with 3 bedrooms and a bonus room; 3,613 SF triplex on a 0.091‑acre lot; built in 1900; Private decks, separate living and dining rooms, hardwood floors, and updated electrical service
