Downtown 6-Unit Apartment
190 Washington Street Lynn, MA 01902
For Sale
$1,575,000
Six 2-bedroom, 1-bath units with five off-street parking spaces on a small downtown Lynn parcel.
Property Size6,015 SF
Price / SF$261.85
Days on Market105
Property Features for 190 Washington Street
General Information
- Standard status
- Active
- Size
- 6,015 SF
- Property subtype
- Multi-family / 5+ Family - 5+ Units Up/Down
Building Details
- Year Built
- 1873
Listing Agency:
Horvath & Tremblay
(781) 776-4000
Listed By:
Stephen Girolamo · License #9552229
(781) 776-4000
Source:
Compass
Added: Apr 13
Changed: Jul 23
Last Checked: Jul 24 at 12:04PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
190 Washington St is a six-unit apartment building containing six 2-bedroom, 1-bathroom units. The property totals 6,015 square feet of gross living area within 8,050 square feet of gross area, situated on a 0.11-acre parcel. Off-street parking is provided via five parking spaces.
The building is located in downtown Lynn and offers access to the city’s central business district, neighborhood retail corridors, and surrounding residential neighborhoods. Tenant responsibilities include gas-powered heat, hot water, and electricity, while the landlord provides city water & sewer.
This is an owner-occupied or investor acquisition opportunity for buyers seeking a well-maintained multifamily asset in the Greater Boston area, with the property’s redevelopment context tied to long-term planning and investment in Lynn’s waterfront and downtown areas.
The building is located in downtown Lynn and offers access to the city’s central business district, neighborhood retail corridors, and surrounding residential neighborhoods. Tenant responsibilities include gas-powered heat, hot water, and electricity, while the landlord provides city water & sewer.
This is an owner-occupied or investor acquisition opportunity for buyers seeking a well-maintained multifamily asset in the Greater Boston area, with the property’s redevelopment context tied to long-term planning and investment in Lynn’s waterfront and downtown areas.
Key Highlights
- Multi‑family property with six 2‑bedroom/1‑bath units
- 5 off‑street parking spaces
- 6,015 sq ft gross living area in 8,050 sq ft gross area
Financial Insights For Apartment 5plus
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 | $204.3k | $33.96 |
| − Vacancy | −$13.3k | −$2.21 |
| EGI | $191.0k | $31.75 |
| − OpEx | −$85.9k | −$14.29 |
| NOI | $105.0k | $17.46 |
6,015 SF · lease $33.96/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $105,046 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,980 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six 2-bedroom, 1-bath units with five off-street parking spaces on a small downtown Lynn parcel.
Where is this apartment building located?
The property is located at 190 Washington Street Lynn, MA.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Multi‑family property with six 2‑bedroom/1‑bath units; 5 off‑street parking spaces; 6,015 sq ft gross living area in 8,050 sq ft gross area
