Three-Family Residential
For Sale
$1,149,000
Pending
162 Washington St, Lynn, MA 01902
Three-family building with separate utilities, renovated kitchen space, and hardwood floors across units.
Property Size4,088 SF
Days on Market56
Property Features for 162 Washington St
General Information
Standard status
Pending
Size
4,088 SF
Total Parking Spaces
3
Property subtype
Multifamily
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,659
Building Details
Building Size
4,088 SF
Year Built
1890
Stories
3
Listing Agency:
Lyv Realty
Listed By:
The Decotis Group
(978) 210-3030
Source:
Classifiedrealtygroup
Added: Jul 20
Changed: Sep 6
Last Checked: Sep 13 at 5:40AM
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
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
$82,162
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
7.15%
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%
$1,643,240
$1.6M
Cap Rate 7%
$1,173,743
$1.2M
Cap Rate 9%
$912,911
$912.9K
Market Conditions
NOI Build-Up for 4,088 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
$125.1K $30.60/SF
− Vacancy
−$7.7K −$1.89/SF
EGI
$117.4K $28.71/SF
− OpEx
−$35.2K −$8.61/SF
NOI
$82.2K $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%
$1,643,240
Cap Rate 7%
$1,173,743
Cap Rate 9%
$912,911
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.03M – $1.37M
NOI $82,162 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$1.02M
$892.4K – $1.19M
NOI $71,393 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,252 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,220
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
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 $1,149,000.
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
