3-Unit Multifamily
For Sale
$999,990
11 Hutchinsons Ct, Lynn, MA 01902
Three apartments each provide three bedrooms, a living room, an eat-in kitchen, and a full bathroom.
Property Size4,756 SF
Price / SF$210.26
Days on Market9
Property Features for 11 Hutchinsons Ct
General Information
Standard status
Active
Size
4,756 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,477
Listing Agency:
Toner Real Estate, LLC
(781) 780-9054
Listed By:
Laura Gunn · License #449543743
(781) 838-0954
Source:
Exprealty
Added: Oct 21
Changed: Oct 27
Last Checked: Oct 28 at 9:29AM
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 Toner Real Estate, LLC
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Investment Insights
Based on property information with market context.
This three-family property contains three apartments, each arranged with five rooms: three bedrooms, a living room, an eat-in kitchen, and a full bathroom. Hardwood floors, tile, high ceilings, and gas heat are among the building’s features. The second and third apartments have stainless steel appliances, and the property has separate utilities with an individual hot water tank for each unit.
A basement provides washer and dryer hookups. The paved driveway includes an off-street parking space. The second apartment is to be delivered vacant.
A basement provides washer and dryer hookups. The paved driveway includes an off-street parking space. The second apartment is to be delivered vacant.
Key Highlights
- Three apartments, each with five rooms and three bedrooms
- Separate utilities; each apartment has its own hot water tank
- Second and third apartments have stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,058
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,661,160
$1.7M
Cap Rate 7%
$1,186,543
$1.2M
Cap Rate 9%
$922,867
$922.9K
Market Conditions
NOI Build-Up for 4,756 SF
Gross rent
$161.5K $33.96/SF
− Vacancy
−$10.5K −$2.21/SF
EGI
$151.0K $31.75/SF
− OpEx
−$68.0K −$14.29/SF
NOI
$83.1K $17.46/SF
Area
Lynn, MA
Vacancy
6.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,661,160
Cap Rate 7%
$1,186,543
Cap Rate 9%
$922,867
Alternative Uses
Best Use
Multifamily LT 5
$1.37M
$1.19M – $1.59M
NOI $95,588 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.38M
NOI $83,058 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,797 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,505
Businesses Nearby
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Business Placement
Demographics for 01902, MA
50,725
Population
19,655
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
75%
High-School Grad
2.4 sq mi
ZIP Area
21,135
Density / Sq Mi
$66,755
Median Household Income
$39,506
Median Earnings
$1,571
Median Rent
$456,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments each provide three bedrooms, a living room, an eat-in kitchen, and a full bathroom.
Where is this triplex located?
The property is located at 11 Hutchinsons Ct Lynn, MA.
What is the asking price?
The asking price for this property is $999,990.
What are key features of this property?
This property features: Three apartments, each with five rooms and three bedrooms; Separate utilities; each apartment has its own hot water tank; Second and third apartments have stainless steel appliances
