Renovated Two-Family with Ocean
For Sale
$1,050,000
16 Grosvenor Park, Lynn, MA 01902
Two-unit property with updated owner’s quarters, a separate townhouse-style residence, and private outdoor amenities.
Property Size3,074 SF
Price / SF$341.57
Days on Market60
Property Features for 16 Grosvenor Park
General Information
Standard status
Active
Size
3,074 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1910
Listing Agency:
Toner Real Estate,LLC
Listed By:
Colleen Toner
(781) 233-1401
Source:
Littlefieldre
Added: Jul 3
Changed: Aug 29
Last Checked: Aug 30 at 5:47PM
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.
This 2-family property offers 3074 square feet across two distinct residences. The first-floor unit has been renovated with central A/C, hardwood flooring, high tray ceilings, a granite eat-in kitchen with stainless steel appliances, cherry cabinetry, gas cooking, and a tiled bath with a walk-in shower. Its oversized living room can also accommodate a home office or second bedroom. The upper townhouse-style unit includes 7 rooms, 4 bedrooms, a living room, kitchen, and full bath.
Outdoor features include a private deck, widow’s walk, fenced backyard, stone patio, and finished bar with TV monitor. A private driveway provides 4+ car parking. The property was built in 1910 and is located in the historic Diamond District, steps from the beach, with views toward the ocean and Nahant.
Outdoor features include a private deck, widow’s walk, fenced backyard, stone patio, and finished bar with TV monitor. A private driveway provides 4+ car parking. The property was built in 1910 and is located in the historic Diamond District, steps from the beach, with views toward the ocean and Nahant.
Key Highlights
- 2‑family property with 3074 square feet
- First‑floor unit renovated with central A/C, hardwood floors, and updated kitchen and bath
- Upper unit includes 7 rooms, 4 bedrooms, kitchen, living room, and full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,782
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,235,640
$1.2M
Cap Rate 7%
$882,600
$882.6K
Cap Rate 9%
$686,467
$686.5K
Market Conditions
NOI Build-Up for 3,074 SF
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.
Gross rent
$94.1K $30.60/SF
− Vacancy
−$5.8K −$1.89/SF
EGI
$88.3K $28.71/SF
− OpEx
−$26.5K −$8.61/SF
NOI
$61.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,235,640
Cap Rate 7%
$882,600
Cap Rate 9%
$686,467
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 01902, MA
50,725
Population
19,655
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
75%
High-School Grad
2.4 sq mi
ZIP Area
21,135
Density / Sq Mi
$66,755
Median Household Income
$39,506
Median Earnings
$1,571
Median Rent
$456,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated owner’s quarters, a separate townhouse-style residence, and private outdoor amenities.
Where is this duplex located?
The property is located at 16 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: 2‑family property with 3074 square feet; First‑floor unit renovated with central A/C, hardwood floors, and updated kitchen and bath; Upper unit includes 7 rooms, 4 bedrooms, kitchen, living room, and full bath
