Renovated Two-Family Seaside
15 Grosvenor Park Lynn, MA 01902
15 Grosvenor Park, Lynn, MA, 01902
$1,050,000
For Sale
$1,050,000
Renovated first-floor owner unit plus upstairs townhouse-style unit, both with private outdoor space and 4+ parking.
Property Size3,074 SF
Price / SF$341.57
Days on Market31
Property Features for 15 Grosvenor Park
General Information
- Standard status
- Active
- Size
- 3,074 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
Toner Real Estate,LLC
Listed by
Colleen Toner
(781) 797-4028
Source
Thepropernest
Added: Jun 21 Updated: Jul 21 at 12:39PM Checked: Jul 21 at 12:39PM
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 Toner Real Estate,LLC
Investment Insights
Based on property information with market context.
15 Grosvenor Park presents a renovated two-family layout with a spacious first-floor owner’s unit and a townhouse-style second unit upstairs. The first floor includes central A/C, gleaming hardwood floors, and high tray ceilings, along with a remodeled granite eat-in kitchen featuring stainless steel appliances, cherry cabinetry, decorative lighting, and gas cooking. A thoughtfully designed interior provides an oversized living room plus flexible space for a home office or a second bedroom, and a designer tile bath with a walk-in shower.
The second unit is a townhouse-style configuration with 7 rooms, 4 bedrooms, a living room, kitchen, and a full bath. Outside, the property offers a private deck and a widow’s walk with views of the ocean, Nahant, and beyond, as well as a private fenced backyard with a stone patio and a finished bar with a TV monitor.
Additional convenience is provided by 4+ car parking on a private driveway, and the home is described as just steps to the beach.
The second unit is a townhouse-style configuration with 7 rooms, 4 bedrooms, a living room, kitchen, and a full bath. Outside, the property offers a private deck and a widow’s walk with views of the ocean, Nahant, and beyond, as well as a private fenced backyard with a stone patio and a finished bar with a TV monitor.
Additional convenience is provided by 4+ car parking on a private driveway, and the home is described as just steps to the beach.
Key Highlights
- Built in 1910, 2‑family home with a renovated first‑floor owner unit plus an upstairs townhouse‑style unit
- First‑floor unit features central A/C, gleaming hardwood floors, and high tray ceilings
- Remodeled granite eat‑in kitchen with stainless steel appliances, cherry cabinetry, decorative lighting, and gas cooking
Local Financial Insights For Multifamily LT 5
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 | $94.1k | $30.60 |
| − Vacancy | −$5.8k | −$1.89 |
| EGI | $88.3k | $28.71 |
| − OpEx | −$26.5k | −$8.61 |
| NOI | $61.8k | $20.10 |
3,074 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$882.6K
$772.3K – $1.03M
NOI $61,782 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$766.9K
$671.1K – $894.7K
NOI $53,684 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$1.09M
$951.7K – $1.27M
NOI $76,137 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated first-floor owner unit plus upstairs townhouse-style unit, both with private outdoor space and 4+ parking.
Where is this duplex located?
The property is located at 15 Grosvenor Park Lynn, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Built in 1910, 2‑family home with a renovated first‑floor owner unit plus an upstairs townhouse‑style unit; First‑floor unit features central A/C, gleaming hardwood floors, and high tray ceilings; Remodeled granite eat‑in kitchen with stainless steel appliances, cherry cabinetry, decorative lighting, and gas cooking
