Nine-Unit Apartment
For Sale
$1,875,000
Pending
137 Franklin St, Lynn, MA 01902
Nine-unit, three-story apartment building with updated electrical, plumbing upgrades, and renovated units, including eight two-bedrooms and one three-bedroom.
Property Size7,565 SF
Days on Market75
Property Features for 137 Franklin St
General Information
Standard status
Pending
Size
7,565 SF
Property subtype
Investment
Additional Details
Cap Rate
8.5%
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$18,413
Building Details
Building Size
7,565 SF
Year Built
1900
Stories
3
Units
9
Tenancy
Multi
Listing Agency:
North Shore Realty Advisors
Listed By:
Dan Pouladian · License #9506215
(617) 548-7737
Source:
Elliman
Added: Jun 22
Changed: Aug 28
Last Checked: Sep 1 at 8:53PM
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 clean nine-unit, three-story apartment building includes eight two-bedroom units and one three-bedroom unit. The property features updated electrical with 400-amp service, plumbing upgrades, and unit renovations. Hot water and common electric are paid by the landlord, while heat and electric are handled through tenant responsibility via separately metered services.
The building’s layout and current configuration support straightforward income-producing operations within a residential income asset. Overall gross area is listed at 10,262± square feet, with 7,565± square feet of living area.
For investors seeking a stabilized multifamily format, this property is presented with lead compliance letters “in hand,” and includes relevant utility and improvement updates intended to reduce near-term capital concerns.
The building’s layout and current configuration support straightforward income-producing operations within a residential income asset. Overall gross area is listed at 10,262± square feet, with 7,565± square feet of living area.
For investors seeking a stabilized multifamily format, this property is presented with lead compliance letters “in hand,” and includes relevant utility and improvement updates intended to reduce near-term capital concerns.
Key Highlights
- 9‑unit, three‑story multi‑family building with 7,565± SF living area and 10,262± SF total gross area
- Unit mix: eight 2‑bedroom units and one 3‑bedroom unit
- Updated electrical with 400‑amp service; plumbing upgrades completed
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
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 - Nine-unit, three-story apartment building with updated electrical, plumbing upgrades, and renovated units, including eight two-bedrooms and one three-bedroom.
Where is this apartment building located?
The property is located at 137 Franklin St Lynn, MA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: 9‑unit, three‑story multi‑family building with 7,565± SF living area and 10,262± SF total gross area; Unit mix: eight 2‑bedroom units and one 3‑bedroom unit; Updated electrical with 400‑amp service; plumbing upgrades completed
