Renovated 8-Unit Multifamily
138 Franklin Lynn, MA 01902
138 Franklin, Lynn, MA, 01902
$1,975,000
For Sale
$1,975,000
Well-maintained 8-unit apartment building with renovated kitchens, in-building laundry connections, and off-street parking.
Property Size7,072 SF
Price / SF$279.27
Days on Market98
Property Features for 138 Franklin
General Information
- Standard status
- Active
- Size
- 7,072 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1988
Listing agency
North Shore Realty Advisors
Listed by
Dan Pouladian
(978) 658-2345
Source
Wilsonwolfe
Added: Apr 15 Updated: Jul 21 at 5:12AM Checked: Jul 21 at 5:12AM
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 well-maintained 8-unit apartment building was constructed in 1988 and features a mix of one-, two-, and three-bedroom units. The layout includes open-concept living and dining areas with breakfast bars, and kitchens have been renovated. Bathrooms are fitted with durable vinyl surrounds to help reduce ongoing maintenance. Tenant amenities include individual storage units, in-building laundry connections, and off-street parking.
The property is located at 138 Franklin in Lynn, MA, and sits along multiple public transportation routes with area amenities nearby.
Unit configuration includes four one-bedroom units, two townhouse-style two-bedroom units, and two townhouse-style three-bedroom units.
The property is located at 138 Franklin in Lynn, MA, and sits along multiple public transportation routes with area amenities nearby.
Unit configuration includes four one-bedroom units, two townhouse-style two-bedroom units, and two townhouse-style three-bedroom units.
Key Highlights
- 8‑unit apartment building built in 1988
- Unit mix: four 1‑bedroom, two 2‑bedroom townhouse‑style, and two 3‑bedroom townhouse‑style units
- Renovated kitchens across the units
Local 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 | $240.2k | $33.96 |
| − Vacancy | −$15.6k | −$2.21 |
| EGI | $224.6k | $31.75 |
| − OpEx | −$101.0k | −$14.29 |
| NOI | $123.5k | $17.46 |
7,072 SF · lease $33.96/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.06M
NOI $123,505 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,159 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained 8-unit apartment building with renovated kitchens, in-building laundry connections, and off-street parking.
Where is this apartment building located?
The property is located at 138 Franklin Lynn, MA.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: 8‑unit apartment building built in 1988; Unit mix: four 1‑bedroom, two 2‑bedroom townhouse‑style, and two 3‑bedroom townhouse‑style units; Renovated kitchens across the units
