17-Unit Apartment Buildings
136-141a Franklin Street Lynn, MA 01902
For Sale
$4,050,000
Two three-story apartment buildings total 17 units, with separately metered heat and electric plus off-street parking and laundry hookups.
Property Size14,637 SF
Price / SF$276.70
Days on Market185
Property Features for 136-141a Franklin Street
General Information
- Standard status
- Active
- Size
- 14,637 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1988
Listing Agency:
North Shore Realty Advisors
Listed By:
Sara Pouladian
(781) 233-1401
Source:
Littlefieldre
Added: Jan 22
Changed: Jul 20
Last Checked: Jul 22 at 6:49AM
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.
Offered for sale is a 17-unit multifamily investment featuring two well-maintained, three-story apartment buildings positioned directly across from one another at 136-141A Franklin Street in Lynn, MA. The property provides 14,637± square feet of living area and 19,702± square feet of total gross area. Unit mix includes four (4) one-bedroom units, ten (10) two-bedroom units (including two townhome-style layouts), and three (3) three-bedroom units split between two (2) townhome-style units and one (1) single-level three-bedroom unit.
Tenants are responsible for separately metered utilities, including heat and electric. The offering also includes seven (7) off-street parking spaces, laundry hookups, and storage spaces to support day-to-day tenant needs.
This configuration provides a balanced mix of unit types across one-bedroom, two-bedroom, and three-bedroom layouts within a two-building multifamily asset.
Tenants are responsible for separately metered utilities, including heat and electric. The offering also includes seven (7) off-street parking spaces, laundry hookups, and storage spaces to support day-to-day tenant needs.
This configuration provides a balanced mix of unit types across one-bedroom, two-bedroom, and three-bedroom layouts within a two-building multifamily asset.
Key Highlights
- 17‑unit multifamily property with 14,637± SF of living area and 19,702± SF total gross area
- Two well‑maintained, three‑story buildings in Downtown Lynn, directly across from one another
- Unit mix includes four 1‑bedroom units, ten 2‑bedroom units (including two townhome‑style layouts), and three 3‑bedroom units (two townhome‑style plus one single‑level)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $497.1k | $33.96 |
| − Vacancy | −$32.3k | −$2.21 |
| EGI | $464.8k | $31.75 |
| − OpEx | −$209.1k | −$14.29 |
| NOI | $255.6k | $17.46 |
14,637 SF · lease $33.96/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.65M
$3.20M – $4.26M
NOI $255,620 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.18M
$4.53M – $6.04M
NOI $362,529 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Two three-story apartment buildings total 17 units, with separately metered heat and electric plus off-street parking and laundry hookups.
Where is this apartment building located?
The property is located at 136-141a Franklin Street Lynn, MA.
What is the asking price?
The asking price for this property is $4,050,000.
What are key features of this property?
This property features: 17‑unit multifamily property with 14,637± SF of living area and 19,702± SF total gross area; Two well‑maintained, three‑story buildings in Downtown Lynn, directly across from one another; Unit mix includes four 1‑bedroom units, ten 2‑bedroom units (including two townhome‑style layouts), and three 3‑bedroom units (two townhome‑style plus one single‑level)
