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108 Franklin St Lynn, MA 01902

For Sale
$7,500,000

Thirty units near downtown Lynn with value-add potential.

Lot size:
0.50 Acres

Property Features for 108 Franklin St

General Information

Lot size
0.50 Acres

Building Details

Year built
1960

Source: Horvath & Tremblay 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.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon 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
-70.9573806
Latitude
42.4670908

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 is the asking price?
The asking price for this property is $7,500,000.
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.
More about this property
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