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    374-378 Washington St Lynn, MA 01901

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    For Sale
    $3,100,000

    46 furnished SRO units with strong cap rate.

    Lot size:
    0.07 Acres

    Property Features for 374-378 Washington St

    General Information

    Lot size
    0.07 Acres

    Building Details

    Year built
    1912

    Source: North Shore Realty Advisors Agent Dan Pouladian

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Stabilized Multifamily Asset in Lynn

    The property at 376 Washington Street presents an opportunity to acquire a stabilized multifamily asset situated in Lynn. It comprises 46 furnished SRO units, complemented by shared kitchens, coin-operated laundry facilities, four full bathrooms, and four half bathrooms. The property benefits from newer building systems, contributing to operational efficiency and potentially reducing near-term capital needs. The property demonstrates a strong 10% cap rate, supported by consistent occupancy and reliable cash flow. Professionally managed with existing staffing and compliance measures, the property is designed to facilitate a smooth transition for new ownership. The property's location within a federally designated Opportunity Zone may offer potential tax benefits. The monthly rent is approximately $46,516. The seller may consider a buyer's property in trade for a 1031 exchange.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lynn
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9474057
    Latitude
    42.4647406

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    FAQs

    What type of property is this?
    Apartment building - 46 furnished SRO units with strong cap rate.
    Where is this apartment building located?
    The property is located at 374-378 Washington St Lynn, MA.
    What is the asking price?
    The asking price for this property is $3,100,000.
    What are key features of this property?
    This property features: - Strong 10% cap rate with consistent occupancy and reliable cash flow.; - 46 furnished SRO units provide immediate rental income.; - Located in a federally designated Opportunity Zone, offering potential tax benefits.
    (617) 548-7737
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    Lynn, MA 01901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    374-378 Washington St Lynn, MA 01901
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