Two Adjacent 6-Unit Multifamily
For Sale
$2,649,000
29-35 Sagamore Street, Lynn, MA 01902
Two fully occupied adjacent multifamily buildings total twelve apartments plus on-site laundry and 12+ off-street parking spaces.
Property Size8,694 SF
Days on Market127
Property Features for 29-35 Sagamore Street
General Information
Standard status
Active
Size
8,694 SF
Total Parking Spaces
12
Property subtype
Multifamily
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$9
Building Details
Building Size
8,694 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Boston Realty Advisors
Listed By:
Daniel Alper · License #CN254381
(617) 768-7333
Source:
Classifiedrealtygroup
Added: Jun 2
Changed: Oct 5
Last Checked: Oct 5 at 4:25PM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
29-35 Sagamore Street offers two adjacent, fully occupied 6-unit multifamily buildings totaling 12 apartments. The mix includes six 2-bedroom/1-bath units and six 1-bedroom/1-bath units. The property also includes an on-site laundry facility and 12+ off-street parking spaces.
The buildings are located in Lynn’s coastal neighborhood, just moments from the beach. The asset is described as benefiting from access to public transportation and convenient connectivity to Boston and the North Shore.
With all units occupied, the offering provides immediate in-place rental income.
The buildings are located in Lynn’s coastal neighborhood, just moments from the beach. The asset is described as benefiting from access to public transportation and convenient connectivity to Boston and the North Shore.
With all units occupied, the offering provides immediate in-place rental income.
Key Highlights
- Two adjacent multifamily buildings (29–35 Sagamore Street) totaling 12 apartments, all fully occupied
- Unit mix includes six 2‑bedroom/1‑bath units and six 1‑bedroom/1‑bath units
- On‑site laundry facility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,831
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,036,620
$3.0M
Cap Rate 7%
$2,169,014
$2.2M
Cap Rate 9%
$1,687,011
$1.7M
Market Conditions
NOI Build-Up for 8,694 SF
Gross rent
$295.2K $33.96/SF
− Vacancy
−$19.2K −$2.21/SF
EGI
$276.1K $31.75/SF
− OpEx
−$124.2K −$14.29/SF
NOI
$151.8K $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 Rate 5%
$3,036,620
Cap Rate 7%
$2,169,014
Cap Rate 9%
$1,687,011
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $151,831 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,333 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,878
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Two fully occupied adjacent multifamily buildings total twelve apartments plus on-site laundry and 12+ off-street parking spaces.
Where is this apartment building located?
The property is located at 29-35 Sagamore Street Lynn, MA.
What is the asking price?
The asking price for this property is $2,649,000.
What are key features of this property?
This property features: Two adjacent multifamily buildings (29–35 Sagamore Street) totaling 12 apartments, all fully occupied; Unit mix includes six 2‑bedroom/1‑bath units and six 1‑bedroom/1‑bath units; On‑site laundry facility
