3-Unit Multifamily
For Sale
$989,000
Pending
28-30 Hollingsworth St, Lynn, MA 01902
De-leaded three-family property with separate utilities, gas heat, porches, and a spacious yard.
Property Size3,384 SF
Days on Market60
Property Features for 28-30 Hollingsworth St
General Information
Standard status
Pending
Size
3,384 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
R2
Occupancy
100%
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,257
Amenities
yard
front porch
Building Details
Building Size
3,384 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
Clements Realty Group
(978) 998-9600
Listed By:
Eugene L. Clements
(978) 998-9600
Source:
Alliancepartnersre
Added: Jul 4
Changed: Aug 29
Last Checked: Aug 29 at 4:53PM
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 Clements Realty Group
Investment Insights
Based on property information with market context.
This 3,384 SF, de-leaded triplex contains three five-room, three-bedroom units. Each apartment has separate utilities, gas heat, and a front porch. The property also includes a spacious yard, maintenance-free vinyl siding, and a rubber roof. Built in 1900, the building is zoned R2.
All three units are currently occupied, creating an established rent roll at closing. The property is located at 28-30 Hollingsworth St in Lynn, Massachusetts, near local amenities, transportation, shopping, and schools.
All three units are currently occupied, creating an established rent roll at closing. The property is located at 28-30 Hollingsworth St in Lynn, Massachusetts, near local amenities, transportation, shopping, and schools.
Key Highlights
- Three five‑room, three‑bedroom units
- 3,384 SF triplex built in 1900
- All units currently occupied
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
$68,013
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
6.88%
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%
$1,360,260
$1.4M
Cap Rate 7%
$971,614
$971.6K
Cap Rate 9%
$755,700
$755.7K
Market Conditions
NOI Build-Up for 3,384 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
$103.6K $30.60/SF
− Vacancy
−$6.4K −$1.89/SF
EGI
$97.2K $28.71/SF
− OpEx
−$29.1K −$8.61/SF
NOI
$68.0K $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%
$1,360,260
Cap Rate 7%
$971,614
Cap Rate 9%
$755,700
Alternative Uses
Best Use
Multifamily LT 5
$971.6K
$850.2K – $1.13M
NOI $68,013 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$844.3K
$738.7K – $985.0K
NOI $59,098 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,815 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,331
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
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 - De-leaded three-family property with separate utilities, gas heat, porches, and a spacious yard.
Where is this triplex located?
The property is located at 28-30 Hollingsworth St Lynn, MA.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Three five‑room, three‑bedroom units; 3,384 SF triplex built in 1900; All units currently occupied
