Three-Family Residential
162 Washington St Lynn, MA 01902
162 Washington St, Lynn, MA, 01902
$1,199,000
For Sale
$1,199,000
Three-family building with separate utilities, renovated kitchen space, and hardwood floors across units.
Property Size4,088 SF
Price / SF$293.30
Days on Market15
Property Features for 162 Washington St
General Information
- Standard status
- Active
- Size
- 4,088 SF
- Property subtype
- 3 Family - 3 Units Up/Down
Building Details
- Year Built
- 1890
Listing agency
Lyv Realty
(978) 210-3030
Listed by
The Decotis Group
(978) 210-3030
Source
Lockandkeyre
Added: Jul 7 Updated: Jul 21 at 4:19AM Checked: Jul 21 at 4:19AM
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 Lyv Realty
Investment Insights
Based on property information with market context.
This three-family residential income property includes two units on the first and second floors, each offering four bedrooms. Both of those levels feature a renovated kitchen, 1 full bathroom, and gleaming hardwood floors throughout. The third-floor residence offers three generously sized bedrooms and provides additional flexibility within the building. Each unit is served by separate utilities, which can simplify ownership and property management.
The property is located at 162 Washington St in Lynn, MA 01902, with access to public transportation and nearby amenities including restaurants and shopping. It is also described as being near Lynn Beach.
From a layout standpoint, the building is organized to support multiple households within one structure, with distinct utility service per unit and consistent interior finishes including hardwood flooring on the first and second floors.
The property is located at 162 Washington St in Lynn, MA 01902, with access to public transportation and nearby amenities including restaurants and shopping. It is also described as being near Lynn Beach.
From a layout standpoint, the building is organized to support multiple households within one structure, with distinct utility service per unit and consistent interior finishes including hardwood flooring on the first and second floors.
Key Highlights
- 1890‑built three‑family property with separate utilities for each unit
- First- and second‑floor units each offer 4 bedrooms, renovated kitchen space, and 1 full bathroom
- Hardwood floors run throughout the first- and second‑floor units
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 | $125.1k | $30.60 |
| − Vacancy | −$7.7k | −$1.89 |
| EGI | $117.4k | $28.71 |
| − OpEx | −$35.2k | −$8.61 |
| NOI | $82.2k | $20.10 |
4,088 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.03M – $1.37M
NOI $82,162 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$1.02M
$892.4K – $1.19M
NOI $71,393 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,252 @ 7.0% cap · market cap 8.44%
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-family building with separate utilities, renovated kitchen space, and hardwood floors across units.
Where is this triplex located?
The property is located at 162 Washington St Lynn, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 1890‑built three‑family property with separate utilities for each unit; First- and second‑floor units each offer 4 bedrooms, renovated kitchen space, and 1 full bathroom; Hardwood floors run throughout the first- and second‑floor units
