9-Unit Apartment
For Sale
$2,025,000
139 Franklin St, Lynn, MA 01902
Multi-unit residential property with a varied bedroom mix and separately metered tenant heat.
Property Size7,565 SF
Days on Market94
Property Features for 139 Franklin St
General Information
Standard status
Active
Size
7,565 SF
Property subtype
Multifamily
Units
Unit Mix
8 x 2BR, 1 x 3BR
Multifamily Units
9
Additional Details
Cap Rate
8%
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,413
Building Details
Building Size
7,565 SF
Year Built
1900
Listing Agency:
North Shore Realty Advisors
Listed By:
Sara Pouladian · License #9063629
(617) 910-6646
Source:
Classifiedrealtygroup
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 31 at 1:42PM
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 North Shore Realty Advisors
Investment Insights
Based on property information with market context.
This apartment building contains nine units, including eight two-bedroom apartments and one three-bedroom apartment. Constructed in 1900, the property has separately metered heat for each tenant, while ownership is responsible for hot water and common-area electricity. Current in-place rents support an 8% cap rate from the first day of ownership.
The property is positioned near Western Avenue and Franklin Street, with Stop & Shop and multiple bus stops nearby. Downtown Lynn is close, and laundromats, restaurants, Central Square, commuter rail service, Bayridge Hospital, and North Shore Community College are within walkable distance.
The property is positioned near Western Avenue and Franklin Street, with Stop & Shop and multiple bus stops nearby. Downtown Lynn is close, and laundromats, restaurants, Central Square, commuter rail service, Bayridge Hospital, and North Shore Community College are within walkable distance.
Key Highlights
- Nine‑unit apartment building with eight 2‑bedroom units and one 3‑bedroom unit
- 8% cap rate based on current in‑place rents
- Tenants pay their own separately metered heat
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
$132,115
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
6.52%
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%
$2,642,300
$2.6M
Cap Rate 7%
$1,887,357
$1.9M
Cap Rate 9%
$1,467,944
$1.5M
Market Conditions
NOI Build-Up for 7,565 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
$256.9K $33.96/SF
− Vacancy
−$16.7K −$2.21/SF
EGI
$240.2K $31.75/SF
− OpEx
−$108.1K −$14.29/SF
NOI
$132.1K $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%
$2,642,300
Cap Rate 7%
$1,887,357
Cap Rate 9%
$1,467,944
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.20M
NOI $132,115 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,370 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,763
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 - Multi-unit residential property with a varied bedroom mix and separately metered tenant heat.
Where is this apartment building located?
The property is located at 139 Franklin St Lynn, MA.
What is the asking price?
The asking price for this property is $2,025,000.
What are key features of this property?
This property features: Nine‑unit apartment building with eight 2‑bedroom units and one 3‑bedroom unit; 8% cap rate based on current in‑place rents; Tenants pay their own separately metered heat
