Multifamily Apartment
139 Franklin Street Lynn, MA 01902
For Sale
$1,950,000
Existing rents are currently in place, with nine total units including eight two-bedroom and one three-bedroom unit.
Property Size7,565 SF
Price / SF$257.77
Days on Market106
Property Features for 139 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
Listed By:
Sara Pouladian
(603) 548-5315
Source:
Burkelordrealestate
Added: Apr 12
Changed: Jul 23
Last Checked: Jul 24 at 10:27PM
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 features nine total units: eight two-bedroom units and one three-bedroom unit. Tenants are responsible for their own separately metered heat, while the landlord is responsible for hot water and common electric.
The property is located near the intersection of Western Avenue and Franklin Street, with nearby access to Stop & Shop and multiple bus stops along Western Avenue. It is also close to Downtown Lynn and within walking distance of Central Square, commuter rail, laundromats, restaurants and amenities including Bayridge Hospital and North Shore Community College.
The building is offered for sale as a single asset, and it is also available as part of a two-building package (see MLS #73481300).
The property is located near the intersection of Western Avenue and Franklin Street, with nearby access to Stop & Shop and multiple bus stops along Western Avenue. It is also close to Downtown Lynn and within walking distance of Central Square, commuter rail, laundromats, restaurants and amenities including Bayridge Hospital and North Shore Community College.
The building is offered for sale as a single asset, and it is also available as part of a two-building package (see MLS #73481300).
Key Highlights
- Multi‑family building built in 1900 with 9 total units: eight 2‑bedroom units and one 3‑bedroom unit
- Current in‑place rents with an 8% cap rate noted on current income as of 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 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,370 @ 7.0% cap · market cap 9.61%
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 - Existing rents are currently in place, with nine total units including eight two-bedroom and one three-bedroom unit.
Where is this apartment building located?
The property is located at 139 Franklin Street Lynn, MA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Multi‑family building built in 1900 with 9 total units: eight 2‑bedroom units and one 3‑bedroom unit; Current in‑place rents with an 8% cap rate noted on current income as of day one of ownership; Tenants pay for separately metered heat; landlord pays for hot water and common electric
