Six-Unit Apartment
For Sale
$1,600,000
133 Chestnut St, Lynn, MA 01902
Deleaded apartments feature tenant-paid heat and electricity, plus off-street parking from two driveways.
Property Size5,664 SF
Price / SF$282.49
Days on Market35
Property Features for 133 Chestnut St
General Information
Standard status
Active
Size
5,664 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
6 x 2BR
Multifamily Units
6
Building Details
Year Built
1823
Stories
3
Listing Agency:
Northeast Private Client Group, LLC
Listed By:
Francis Saenz · License #149766
(857) 990-6803
Source:
Gooddeedsrealtypartners
Added: Jul 30
Changed: Aug 28
Last Checked: Sep 1 at 8:52PM
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.
This three-story apartment property contains six two-bedroom units within 5,664 square feet. Each residence has been deleaded, and utilities are separately metered, with residents responsible for heat and electricity. The building dates to 1823 and includes two driveways that provide off-street parking access from Chestnut Street and Olive Street.
Located at 133 Chestnut Street in Lynn, Massachusetts, the property is near public transportation, shopping, and dining. Its setting also provides access to Boston. The six-unit configuration and consistent two-bedroom layout offer a straightforward multifamily profile for continued residential operation.
Located at 133 Chestnut Street in Lynn, Massachusetts, the property is near public transportation, shopping, and dining. Its setting also provides access to Boston. The six-unit configuration and consistent two-bedroom layout offer a straightforward multifamily profile for continued residential operation.
Key Highlights
- Six two‑bedroom apartments in a three‑story multifamily building
- 5,664 square feet across six residential units
- All units are deleaded
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
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Deleaded apartments feature tenant-paid heat and electricity, plus off-street parking from two driveways.
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: Six two‑bedroom apartments in a three‑story multifamily building; 5,664 square feet across six residential units; All units are deleaded
