Classic Triplex with Vacant
For Sale
$775,000
Pending
22 Elm St, Lynn, MA 01905
Three-level multifamily property with separate utilities, replacement windows, and two vacant floors suitable for an owner occupant.
Property Size3,267 SF
Days on Market199
Property Features for 22 Elm St
General Information
Standard status
Pending
Size
3,267 SF
Property subtype
3 Family
Taxes and HOA fees
Annual Taxes
$7,291
Building Details
Building Size
3,267 SF
Year Built
1900
Listing Agency:
Citylight Realty
Listed By:
Steven Belesis · License #9510338
(617) 763-1001
Source:
Jonathanradford
Added: Apr 14
Changed: Oct 27
Last Checked: Oct 28 at 5:33PM
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 Citylight Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1900-built triplex contains three residential units, each arranged with five rooms, including a living room, dining room, eat-in kitchen, and two bedrooms. The 3,267-square-foot property has vinyl siding, replacement windows, and a rubber roof. Gas heat, hot water tanks, and electric service are separately metered for each unit.
The first and second floors are vacant, providing immediate occupancy options for an owner occupant. The property is located just off Lynn Commons, with access to public transit and Market Basket within a short walk.
The first and second floors are vacant, providing immediate occupancy options for an owner occupant. The property is located just off Lynn Commons, with access to public transit and Market Basket within a short walk.
Key Highlights
- Three‑unit multifamily property totaling 3,267 square feet
- Each unit includes 5 rooms, 2 bedrooms, living room, dining room, and eat‑in kitchen
- Separate gas heat, hot water tanks, and individually metered electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,661
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,220
$1.3M
Cap Rate 7%
$938,014
$938.0K
Cap Rate 9%
$729,567
$729.6K
Market Conditions
NOI Build-Up for 3,267 SF
Gross rent
$100.0K $30.60/SF
− Vacancy
−$6.2K −$1.89/SF
EGI
$93.8K $28.71/SF
− OpEx
−$28.1K −$8.61/SF
NOI
$65.7K $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 Rate 5%
$1,313,220
Cap Rate 7%
$938,014
Cap Rate 9%
$729,567
Alternative Uses
Best Use
Multifamily LT 5
$938.0K
$820.8K – $1.09M
NOI $65,661 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$815.1K
$713.2K – $950.9K
NOI $57,055 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,917 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,269
Businesses Nearby
Explore this area
Business Placement
Demographics for 01905, MA
27,761
Population
9,583
Households
2.9
Avg Household Size
34
Median Age
21%
College-Educated
79%
High-School Grad
3.1 sq mi
ZIP Area
8,955
Density / Sq Mi
$84,341
Median Household Income
$42,983
Median Earnings
$1,749
Median Rent
$443,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-level multifamily property with separate utilities, replacement windows, and two vacant floors suitable for an owner occupant.
Where is this triplex located?
The property is located at 22 Elm St Lynn, MA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Three‑unit multifamily property totaling 3,267 square feet; Each unit includes 5 rooms, 2 bedrooms, living room, dining room, and eat‑in kitchen; Separate gas heat, hot water tanks, and individually metered electric
