108 Franklin St Lynn, MA 01902
Property Features for 108 Franklin St
General Information
- Lot size
- 0.50 Acres
Building Details
- Year built
- 1960
Source:
Elliman
Listing Agent: Stephen Girolamo
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Thirty-Unit Multifamily Property in Lynn
The property at 108 Franklin St features thirty units, including twenty-five 2-bedroom/1-bathroom units, four 1-bedroom/1-bathroom units, and one studio unit. Situated on a 0.50-acre parcel, the property provides thirty-two parking spaces in a front-facing parking lot. Tenants are responsible for their individual electricity usage, as each unit is separately metered. The landlord covers the costs of gas-powered hot water and heat, common area electricity, and city water and sewer services. The property's location near downtown Lynn offers high visibility and accessibility within a dynamic urban center on the North Shore. Existing rents are below current market rates, presenting an opportunity to enhance unit interiors and common areas to increase rental rates in a high-demand, supply-constrained residential market.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Lynn
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.9573806
- Latitude
- 42.4670908
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Thirty units near downtown Lynn with value-add potential.
Where is this apartment building located?
The property is located at 108 Franklin St Lynn, MA.
What are key features of this property?
This property features: - High-demand, supply-constrained urban location near downtown Lynn.; - Opportunity to increase rental income by upgrading unit interiors and common areas.; - Ample parking with 32 spaces.
