Three-Family Residential
16 Salem Street Lynn, MA 01905
16 Salem Street, Lynn, MA, 01905
$949,900
For Sale
$949,900
Three spacious units on a fenced corner lot with off-street parking and basement laundry hook-ups.
Property Size3,357 SF
Price / SF$282.96
Days on Market161
Property Features for 16 Salem Street
General Information
- Standard status
- Active
- Size
- 3,357 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Toner Real Estate,LLC
Listed by
Melissa Jeffery
(617) 236-0353
Source
Thecharlesrealty
Added: Feb 11 Updated: Jul 21 at 2:12PM Checked: Jul 22 at 8:28AM
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 three-family residential income property is situated on a fenced-in corner lot and designed with comfortable, apartment-style living. The first and second floors each feature a living room, dining room, kitchen, two bedrooms, and a full bathroom. The third floor includes a kitchen, living room, two bedrooms, and a bathroom, and also provides a second means of egress.
Parking for 4+ cars is available off-street. The basement includes ample storage space and laundry hook-ups. The property is described as being close to schools, shopping, restaurants, beaches, the ferry, train station, college, and the airport.
The home is configured to support all three units with dedicated layouts across the first through third floors, along with storage and laundry provisions in the basement. Access and showings are scheduled during the week evenings from 5:30 to 7 and offer flexibility on weekends.
Parking for 4+ cars is available off-street. The basement includes ample storage space and laundry hook-ups. The property is described as being close to schools, shopping, restaurants, beaches, the ferry, train station, college, and the airport.
The home is configured to support all three units with dedicated layouts across the first through third floors, along with storage and laundry provisions in the basement. Access and showings are scheduled during the week evenings from 5:30 to 7 and offer flexibility on weekends.
Key Highlights
- Three‑family property built in 1900 on a fenced corner lot
- 1st and 2nd floors each include a living room, dining room, kitchen, two bedrooms, and a full bathroom
- 3rd floor includes a living room, kitchen, two bedrooms, a bathroom, and a second means of egress
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 | $102.7k | $30.60 |
| − Vacancy | −$6.3k | −$1.89 |
| EGI | $96.4k | $28.71 |
| − OpEx | −$28.9k | −$8.61 |
| NOI | $67.5k | $20.10 |
3,357 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$963.9K
$843.4K – $1.12M
NOI $67,470 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$837.5K
$732.8K – $977.1K
NOI $58,626 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,146 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three spacious units on a fenced corner lot with off-street parking and basement laundry hook-ups.
Where is this triplex located?
The property is located at 16 Salem Street Lynn, MA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Three‑family property built in 1900 on a fenced corner lot; 1st and 2nd floors each include a living room, dining room, kitchen, two bedrooms, and a full bathroom; 3rd floor includes a living room, kitchen, two bedrooms, a bathroom, and a second means of egress
