Turnkey 3-Unit Multifamily
11 Fernwood Avenue Lynn, MA 01904
11 Fernwood Avenue, Lynn, MA, 01904
$999,999
For Sale
$999,999
Three residential units each offer two bedrooms and in-unit laundry, presented as move-in ready.
Property Size2,619 SF
Price / SF$381.82
Days on Market53
Property Features for 11 Fernwood Avenue
General Information
- Standard status
- Active
- Size
- 2,619 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
High Quality Real Estate LLC
Listed by
Ranjan Thapa
(508) 867-2800
Source
Miketoomeyrealestate
Added: May 31 Updated: Jul 21 at 11:15PM Checked: Jul 21 at 11:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of High Quality Real Estate LLC
Investment Insights
Based on property information with market context.
This turnkey 3-unit multifamily property features three residential units, each with two bedrooms and in-unit laundry. The building is described as well-maintained and move-in ready, offering a practical setup for both investors and owner-occupants.
The property is located at 11 Fernwood Avenue in Lynn, Massachusetts, near Flax Pond and approximately 2 to 2.5 miles from Lynn Shore & Nahant Beach Reservation. The listing notes convenient access to beaches, parks, shopping, dining, public transportation, and major commuter routes.
With three separate units configured for two-bedroom living and private laundry within each home, the property provides a straightforward multi-family layout within an established residential setting.
The property is located at 11 Fernwood Avenue in Lynn, Massachusetts, near Flax Pond and approximately 2 to 2.5 miles from Lynn Shore & Nahant Beach Reservation. The listing notes convenient access to beaches, parks, shopping, dining, public transportation, and major commuter routes.
With three separate units configured for two-bedroom living and private laundry within each home, the property provides a straightforward multi-family layout within an established residential setting.
Key Highlights
- Turnkey 3‑family home built in 1920
- Each unit has 2 bedrooms
- In‑unit laundry in all three units
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.1k | $30.60 |
| − Vacancy | −$4.9k | −$1.89 |
| EGI | $75.2k | $28.71 |
| − OpEx | −$22.6k | −$8.61 |
| NOI | $52.6k | $20.10 |
2,619 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$752.0K
$658.0K – $877.3K
NOI $52,638 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$653.4K
$571.7K – $762.3K
NOI $45,738 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$926.7K
$810.8K – $1.08M
NOI $64,867 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three residential units each offer two bedrooms and in-unit laundry, presented as move-in ready.
Where is this triplex located?
The property is located at 11 Fernwood Avenue Lynn, MA.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Turnkey 3‑family home built in 1920; Each unit has 2 bedrooms; In‑unit laundry in all three units
