Three-Story Six-Unit Apartment
For Sale
$1,600,000
133 Chestnut St, Lynn, MA 01902
Six two-bedroom units in a three-story multifamily building with separate utility responsibility for heat and electricity.
Property Size5,664 SF
Days on Market26
Property Features for 133 Chestnut St
General Information
Standard status
Active
Size
5,664 SF
Total Parking Spaces
6
Property subtype
Multifamily
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$13,180
Building Details
Building Size
5,664 SF
Year Built
1823
Stories
3
Tenancy
Multi
Listing Agency:
Northeast Private Client Group, LLC
(857) 990-6803
Listed By:
Francis Saenz · License #149766
Source:
Classifiedrealtygroup
Added: Jul 15
Changed: Aug 8
Last Checked: Aug 9 at 5:13AM
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 Northeast Private Client Group, LLC
Investment Insights
Based on property information with market context.
The Chestnut Street Apartments are a three-story, six-unit multifamily property featuring six two-bedroom floor plans. The units are deleaded, and each tenant is responsible for separate utilities, including heat and electricity. Off-street parking is supported by two driveways accessing Chestnut and Olive Streets.
The property is described as conveniently located near public transportation, shopping, and dining options, with easy access to Boston.
Tours are available by scheduled appointment for interested and qualified parties, with additional information available upon request.
The property is described as conveniently located near public transportation, shopping, and dining options, with easy access to Boston.
Tours are available by scheduled appointment for interested and qualified parties, with additional information available upon request.
Key Highlights
- Three‑story, six‑unit multifamily building built in 1823 at 133 Chestnut Street in Lynn, MA
- Six two‑bedroom floor plans across all units
- Separate utilities: tenants are responsible for heat and electricity
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,916
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,978,320
$2.0M
Cap Rate 7%
$1,413,086
$1.4M
Cap Rate 9%
$1,099,067
$1.1M
Market Conditions
NOI Build-Up for 5,664 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$192.3K $33.96/SF
− Vacancy
−$12.5K −$2.21/SF
EGI
$179.8K $31.75/SF
− OpEx
−$80.9K −$14.29/SF
NOI
$98.9K $17.46/SF
Area
Lynn, MA
Vacancy
6.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,978,320
Cap Rate 7%
$1,413,086
Cap Rate 9%
$1,099,067
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $98,916 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,286 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,126
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six two-bedroom units in a three-story multifamily building with separate utility responsibility for heat and electricity.
Where is this apartment building located?
The property is located at 133 Chestnut St Lynn, MA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Three‑story, six‑unit multifamily building built in 1823 at 133 Chestnut Street in Lynn, MA; Six two‑bedroom floor plans across all units; Separate utilities: tenants are responsible for heat and electricity
