Triplex with Three True 6-Room
For Sale
$1,150,000
16 Dowfield Ter, Lynn, MA 01904
Three-unit triplex built in 1920 with separate utilities, in-unit washer/dryer hookups, and a private rear porch for each unit.
Property Size4,626 SF
Days on Market93
Property Features for 16 Dowfield Ter
General Information
Standard status
Active
Size
4,626 SF
Total Parking Spaces
7
Property subtype
Residential Income
Zoning
R4
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,767
Amenities
washer/dryer hookups
private rear porch
Building Details
Building Size
4,626 SF
Year Built
1920
Stories
3
Units
3
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Dalbon & Company
(978) 882-4623
Source:
Startpoint
Added: Jul 30
Changed: Oct 29
Last Checked: Oct 30 at 1:45PM
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 Keller Williams Realty Evolution
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Investment Insights
Based on property information with market context.
This three-family triplex built in 1920 features three true 6-room apartments. Each unit offers over 1,500 square feet, classic double parlors, high ceilings, hardwood floors, and spacious eat-in kitchens. Apartment layouts include separate gas heat and hot water, with each unit having its own gas and electric utilities. Washer and dryer hookups are provided for each unit, along with a private rear porch.
Additional property features include vinyl replacement windows, a basement with four additional rooms and a full bath, and 7 unobstructed off-street parking spaces. The home is located on a quiet dead-end street. Lead compliance certificates are available for all 3 units.
The property is described as having long-term tenants averaging 19 years and an excellent history of on-time rent payments.
Additional property features include vinyl replacement windows, a basement with four additional rooms and a full bath, and 7 unobstructed off-street parking spaces. The home is located on a quiet dead-end street. Lead compliance certificates are available for all 3 units.
The property is described as having long-term tenants averaging 19 years and an excellent history of on-time rent payments.
Key Highlights
- Three true 6‑room apartments, each with over 1,500 SF
- Separate gas heat and hot water for each unit
- Each unit has its own gas and electric utilities plus washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,975
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,859,500
$1.9M
Cap Rate 7%
$1,328,214
$1.3M
Cap Rate 9%
$1,033,056
$1.0M
Market Conditions
NOI Build-Up for 4,626 SF
Gross rent
$141.6K $30.60/SF
− Vacancy
−$8.7K −$1.89/SF
EGI
$132.8K $28.71/SF
− OpEx
−$39.8K −$8.61/SF
NOI
$93.0K $20.10/SF
Area
Lynn, MA
Vacancy
6.17%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,859,500
Cap Rate 7%
$1,328,214
Cap Rate 9%
$1,033,056
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $92,975 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,788 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,577 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
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Business Placement
Demographics for 01904, MA
19,944
Population
7,322
Households
2.7
Avg Household Size
40
Median Age
32%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
4,749
Density / Sq Mi
$100,597
Median Household Income
$49,561
Median Earnings
$1,742
Median Rent
$515,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex built in 1920 with separate utilities, in-unit washer/dryer hookups, and a private rear porch for each unit.
Where is this triplex located?
The property is located at 16 Dowfield Ter Lynn, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three true 6‑room apartments, each with over 1,500 SF; Separate gas heat and hot water for each unit; Each unit has its own gas and electric utilities plus washer and dryer hookups
