Waterfront Triplex with Private
22 Reed St, Lynn, MA 01905
For Sale
$1,100,000
Three two-bedroom residences each have a full bath and a private deck.
Property Size3,239 SF
Price / SF$339.61
Days on Market16
Property Features for 22 Reed St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
private decks
full basement
Building Details
Buildings
Stories
Listing Agency:
eXp Realty LLC - Corporate Office
(888) 854-7493
Listed By:
Dawn Aiello · License MA #449596399
(978) 852-3556
Source:
Exprealty
Added: Oct 29
Changed: Nov 9
Last Checked: Nov 12 at 11:12AM
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 eXp Realty LLC - Corporate Office
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Investment Insights
Based on property information with market context.
This 3,239-square-foot triplex in Lynn was built in 1920 and comprises three living levels, each with two bedrooms, one full bathroom, and a private deck. The property is identified as waterfront and sits on a double-sized lot. A detached two-car garage, additional off-street parking, and a full basement provide further on-site space.
The property is at 22 Reed St in Lynn’s Austin Square neighborhood. Shops, restaurants, parks, schools, and public transportation are among the nearby amenities, with access to North Shore and Greater Boston destinations.
The property is at 22 Reed St in Lynn’s Austin Square neighborhood. Shops, restaurants, parks, schools, and public transportation are among the nearby amenities, with access to North Shore and Greater Boston destinations.
Key Highlights
- Three levels, each with 2 bedrooms, 1 full bath, and a private deck
- 3,239 square feet; built in 1920
- Waterfront property on a double‑sized lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,099
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,301,980
$1.3M
Cap Rate 7%
$929,986
$930.0K
Cap Rate 9%
$723,322
$723.3K
Market Conditions
NOI Build-Up for 3,239 SF
Gross rent
$99.1K $30.60/SF
− Vacancy
−$6.1K −$1.89/SF
EGI
$93.0K $28.71/SF
− OpEx
−$27.9K −$8.61/SF
NOI
$65.1K $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%
$1,301,980
Cap Rate 7%
$929,986
Cap Rate 9%
$723,322
Alternative Uses
Best Use
Multifamily LT 5
$930.0K
$813.7K – $1.08M
NOI $65,099 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$808.1K
$707.1K – $942.8K
NOI $56,566 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,224 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
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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
$443,200
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Lynn, MA
Properties on Market for Triplexes in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom residences each have a full bath and a private deck.
Where is this triplex located?
The property is located at 22 Reed St Lynn, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three levels, each with 2 bedrooms, 1 full bath, and a private deck; 3,239 square feet; built in 1920; Waterfront property on a double‑sized lot
