Brick Duplex with Solar
New
For Sale
$925,000
120 Lynnway, Revere, MA 02151
Private beach rights and a two-unit layout distinguish this Revere property.
Property Size3,639 SF
Lot Size0.21 Acres
Price / SF$254.19
Days on Market7
Property Features for 120 Lynnway
General Information
Standard status
Active
Size
3,639 SF
Total Parking Spaces
4
Lot size
0.21 Acres
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
ready for renovation
Additional Details
Multifamily Units
2
Amenities
private beach rights
fireplace
central air conditioning
Building Details
Year Built
1968
Construction
mid-century modern
Listing Agency:
Reference Real Estate
Listed By:
Reserve Team
(781) 342-0052
Source:
Sarkisboston
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 24 at 8:06PM
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 Reference Real Estate
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Investment Insights
Based on property information with market context.
Built in 1968, this 3,639-square-foot brick duplex contains five bedrooms and four and a half bathrooms across a main residence and a separate second unit. The 9,361-square-foot parcel includes four off-street parking spaces and a rooftop solar system rated at 24.99 kW, with estimated annual production of 27,800 kilowatt hours. A tankless boiler, gas hot water heat, central air conditioning, a poured concrete foundation, and updated kitchen appliances are also in place. The property requires renovation, with dated finishes and damage needing repair. Additional finished area is present beyond the two permitted units.
At 120 Lynnway in Revere’s Point of Pines, the property lies between Revere Beach and the Pines River and carries private beach rights. The lot backs to municipally owned land.
At 120 Lynnway in Revere’s Point of Pines, the property lies between Revere Beach and the Pines River and carries private beach rights. The lot backs to municipally owned land.
Key Highlights
- 3,639‑square‑foot brick duplex built in 1968
- 9,361‑square‑foot lot with four off‑street parking spaces
- Five bedrooms and four and a half bathrooms across two units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,327
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,386,540
$1.4M
Cap Rate 7%
$990,386
$990.4K
Cap Rate 9%
$770,300
$770.3K
Market Conditions
NOI Build-Up for 3,639 SF
Gross rent
$104.8K $28.80/SF
− Vacancy
−$5.8K −$1.58/SF
EGI
$99.0K $27.22/SF
− OpEx
−$29.7K −$8.16/SF
NOI
$69.3K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,386,540
Cap Rate 7%
$990,386
Cap Rate 9%
$770,300
Alternative Uses
Best Use
Multifamily LT 5
$990.4K
$866.6K – $1.16M
NOI $69,327 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$903.1K
$790.2K – $1.05M
NOI $63,214 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,799 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
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Business Placement
Demographics for 02151, MA
62,252
Population
23,461
Households
2.7
Avg Household Size
38
Median Age
25%
College-Educated
83%
High-School Grad
5.7 sq mi
ZIP Area
10,921
Density / Sq Mi
$80,948
Median Household Income
$43,374
Median Earnings
$1,964
Median Rent
$566,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Private beach rights and a two-unit layout distinguish this Revere property.
Where is this duplex located?
The property is located at 120 Lynnway Revere, MA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 3,639‑square‑foot brick duplex built in 1968; 9,361‑square‑foot lot with four off‑street parking spaces; Five bedrooms and four and a half bathrooms across two units
