Three-Unit Triplex with Water
11 Tudor St, Lynn, MA 01902
For Sale
$1,060,000
Pending
The three-story property includes a partially gutted area and upper-level water views.
Property Size3,981 SF
Days on Market10
Property Features for 11 Tudor St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Living Room
Kitchen
Rain Gutters
Professional Landscaping
Fruit Trees
Garden
Stone Wall
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
(781) 729-7777
Listed By:
Danielle Storella
(978) 290-9764
Source:
Castleknockrealtygroup
Added: Nov 1
Changed: Nov 4
Last Checked: Nov 9 at 7:29PM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
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Investment Insights
Based on property information with market context.
This legal three-family property contains 3,981 square feet across three stories and is arranged as three units. Upper-level rooms have water views. Part of the interior has been gutted, leaving space for renovation and changes to the existing layouts. The property was built in 1900 and is zoned R3.
The Lynn property is near the beach, commuter rail, restaurants, shopping, and the waterfront.
The Lynn property is near the beach, commuter rail, restaurants, shopping, and the waterfront.
Key Highlights
- Legal three‑family property arranged as three units
- 3,981 square feet of living space across three stories
- Upper‑level water views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,012
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,600,240
$1.6M
Cap Rate 7%
$1,143,029
$1.1M
Cap Rate 9%
$889,022
$889.0K
Market Conditions
NOI Build-Up for 3,981 SF
Gross rent
$121.8K $30.60/SF
− Vacancy
−$7.5K −$1.89/SF
EGI
$114.3K $28.71/SF
− OpEx
−$34.3K −$8.61/SF
NOI
$80.0K $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 Rate 5%
$1,600,240
Cap Rate 7%
$1,143,029
Cap Rate 9%
$889,022
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$1.00M – $1.33M
NOI $80,012 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$993.2K
$869.1K – $1.16M
NOI $69,524 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,601 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,369
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
$456,000
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Lynn, MA
Properties on Market for Triplexes in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The three-story property includes a partially gutted area and upper-level water views.
Where is this triplex located?
The property is located at 11 Tudor St Lynn, MA.
What is the asking price?
The asking price for this property is $1,060,000.
What are key features of this property?
This property features: Legal three‑family property arranged as three units; 3,981 square feet of living space across three stories; Upper‑level water views
