Two Adjacent 6-Unit Multifamily
29-35 Sagamore Street Lynn, MA 01902
29-35 Sagamore Street, Lynn, MA, 01902
$2,649,000
For Sale
$2,649,000
Two fully occupied adjacent multifamily buildings total twelve apartments plus on-site laundry and 12+ off-street parking spaces.
Property Size8,694 SF
Price / SF$304.69
Days on Market56
Property Features for 29-35 Sagamore Street
General Information
- Standard status
- Active
- Size
- 8,694 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Boston Realty Advisors
Listed by
Daniel Alper
(781) 233-1401
Source
Littlefieldre
Added: May 27 Updated: Jul 21 at 1:19AM Checked: Jul 21 at 8:18AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
29-35 Sagamore Street offers two adjacent, fully occupied 6-unit multifamily buildings totaling 12 apartments. The mix includes six 2-bedroom/1-bath units and six 1-bedroom/1-bath units. The property also includes an on-site laundry facility and 12+ off-street parking spaces.
The buildings are located in Lynn’s coastal neighborhood, just moments from the beach. The asset is described as benefiting from access to public transportation and convenient connectivity to Boston and the North Shore.
With all units occupied, the offering provides immediate in-place rental income.
The buildings are located in Lynn’s coastal neighborhood, just moments from the beach. The asset is described as benefiting from access to public transportation and convenient connectivity to Boston and the North Shore.
With all units occupied, the offering provides immediate in-place rental income.
Key Highlights
- Two adjacent multifamily buildings (29–35 Sagamore Street) totaling 12 apartments, all fully occupied
- Unit mix includes six 2‑bedroom/1‑bath units and six 1‑bedroom/1‑bath units
- On‑site laundry facility
Local 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 | $295.2k | $33.96 |
| − Vacancy | −$19.2k | −$2.21 |
| EGI | $276.1k | $31.75 |
| − OpEx | −$124.2k | −$14.29 |
| NOI | $151.8k | $17.46 |
8,694 SF · lease $33.96/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $151,831 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,333 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two fully occupied adjacent multifamily buildings total twelve apartments plus on-site laundry and 12+ off-street parking spaces.
Where is this apartment building located?
The property is located at 29-35 Sagamore Street Lynn, MA.
What is the asking price?
The asking price for this property is $2,649,000.
What are key features of this property?
This property features: Two adjacent multifamily buildings (29–35 Sagamore Street) totaling 12 apartments, all fully occupied; Unit mix includes six 2‑bedroom/1‑bath units and six 1‑bedroom/1‑bath units; On‑site laundry facility
