Three-Unit Residential
For Sale
$1,099,999
274 Boston Street, Lynn, MA 01904
Corner-lot residence with a fenced yard, four parking spaces, and separate living areas across three floors.
Property Size3,459 SF
Price / SF$318.01
Days on Market283
Property Features for 274 Boston Street
General Information
Standard status
Active
Size
3,459 SF
Total Parking Spaces
4
Property subtype
Multi-family / 3 Family
Zoning
R4
Net Operating Income
$59,400
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,067
Amenities
fenced yard
No
Tile, Hardwood, Wood
Range, Microwave, Refrigerator, Washer, Dryer
3.0
Pantry, Stone/Granite/Solid Counters, Upgraded Cabinets, Upgraded Countertops, Bathroom With Tub, Living Room, Kitchen, Family Room, Laundry Room, Dining Room, Window AC
3
3.00
Fenced
Frame
Rubber
Corner Lot
Balcony/Deck, Fenced Yard, Porch, Deck - Wood, Patio
Porch, Deck - Wood, Patio
Building Details
Year Built
1920
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Perlera Real Estate
(617) 418-5280
Listed By:
Ricardo Amaya · License #9560706
(617) 418-5280
Source:
Compass
Added: Nov 21, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:29PM
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 Perlera Real Estate
Investment Insights
Based on property information with market context.
This 3,459-square-foot, three-unit residential property was built in 1920 and is arranged across three floors. The first and second levels each contain three bedrooms, while the third floor offers potential for conversion to a comparable layout. Interior features include hardwood and tile finishes, kitchens with ranges, microwaves, refrigerators, upgraded cabinetry, solid-surface counters, and dedicated laundry areas. The property also includes living, dining, family, and kitchen spaces, along with window AC.
The first-floor unit is owner-occupied and will be delivered vacant. The second- and third-floor units are occupied by tenants-at-will. Exterior features include a fenced yard, porch, wood deck, patio, balcony or deck space, and a corner-lot setting. Four parking spaces are included, with additional parking potentially possible within the yard. The property is zoned R4 and located at 274 Boston Street in Lynn, Massachusetts.
The first-floor unit is owner-occupied and will be delivered vacant. The second- and third-floor units are occupied by tenants-at-will. Exterior features include a fenced yard, porch, wood deck, patio, balcony or deck space, and a corner-lot setting. Four parking spaces are included, with additional parking potentially possible within the yard. The property is zoned R4 and located at 274 Boston Street in Lynn, Massachusetts.
Key Highlights
- Three‑unit property with 3,459 square feet, built in 1920
- First and second floors each offer 3 bedrooms
- First‑floor unit will be delivered vacant; upper floors are tenants‑at‑will
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
$69,520
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
6.32%
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%
$1,390,400
$1.4M
Cap Rate 7%
$993,143
$993.1K
Cap Rate 9%
$772,444
$772.4K
Market Conditions
NOI Build-Up for 3,459 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
$105.8K $30.60/SF
− Vacancy
−$6.5K −$1.89/SF
EGI
$99.3K $28.71/SF
− OpEx
−$29.8K −$8.61/SF
NOI
$69.5K $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%
$1,390,400
Cap Rate 7%
$993,143
Cap Rate 9%
$772,444
Alternative Uses
Best Use
Multifamily LT 5
$993.1K
$869.0K – $1.16M
NOI $69,520 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$863.0K
$755.1K – $1.01M
NOI $60,408 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,673 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 01904, MA
19,944
Population
7,322
Households
2.7
Avg Household Size
40
Median Age
32%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
4,749
Density / Sq Mi
$100,597
Median Household Income
$49,561
Median Earnings
$1,742
Median Rent
$515,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Corner-lot residence with a fenced yard, four parking spaces, and separate living areas across three floors.
Where is this triplex located?
The property is located at 274 Boston Street Lynn, MA.
What is the asking price?
The asking price for this property is $1,099,999.
What are key features of this property?
This property features: Three‑unit property with 3,459 square feet, built in 1920; First and second floors each offer 3 bedrooms; First‑floor unit will be delivered vacant; upper floors are tenants‑at‑will
