Multifamily Building with
137 Franklin Street Lynn, MA 01902
For Sale
$2,075,000
Apartment building with eight two-bedroom units and one three-bedroom unit, with separately metered heat.
Property Size7,565 SF
Price / SF$274.29
Days on Market103
Property Features for 137 Franklin Street
General Information
- Standard status
- Active
- Size
- 7,565 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency:
North Shore Realty Advisors
(617) 910-6646
Listed By:
Sara Pouladian · License #9063629
Source:
Eganrealtygroup
Added: Apr 15
Changed: Jul 21
Last Checked: Jul 22 at 7:21AM
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 multifamily apartment building includes nine total units, comprised of eight two-bedroom units and one three-bedroom unit. Tenants are responsible for their own separately metered heat, while the landlord provides hot water and common electric.
The property is located near the intersection of Western Avenue and Franklin Street and is around the corner from Stop & Shop and multiple bus stops along Western Avenue. It is also near Downtown Lynn and within walking distance of Central Square, laundromats, restaurants, Bayridge Hospital, and North Shore Community College.
The building is offered for sale as a standalone property, and it is also available as part of a 2-building package (see MLS #73481300).
The property is located near the intersection of Western Avenue and Franklin Street and is around the corner from Stop & Shop and multiple bus stops along Western Avenue. It is also near Downtown Lynn and within walking distance of Central Square, laundromats, restaurants, Bayridge Hospital, and North Shore Community College.
The building is offered for sale as a standalone property, and it is also available as part of a 2-building package (see MLS #73481300).
Key Highlights
- Apartment building built in 1900 with 8 two‑bedroom units and 1 three‑bedroom unit
- Stated 8% cap rate based on current in‑place rents on day one of ownership
- Tenants pay for separately metered heat; landlord pays for hot water and common electric
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 | $256.9k | $33.96 |
| − Vacancy | −$16.7k | −$2.21 |
| EGI | $240.2k | $31.75 |
| − OpEx | −$108.1k | −$14.29 |
| NOI | $132.1k | $17.46 |
7,565 SF · lease $33.96/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.20M
NOI $132,115 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,370 @ 7.0% cap · market cap 9.03%
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 - Apartment building with eight two-bedroom units and one three-bedroom unit, with separately metered heat.
Where is this apartment building located?
The property is located at 137 Franklin Street Lynn, MA.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: Apartment building built in 1900 with 8 two‑bedroom units and 1 three‑bedroom unit; Stated 8% cap rate based on current in‑place rents on day one of ownership; Tenants pay for separately metered heat; landlord pays for hot water and common electric
