Ocean-View Three-Family
34 Ocean Terrace Lynn, MA 01902
New
34 Ocean Terrace, Lynn, MA, 01902
$1,100,000
For Sale
$1,100,000
Three-family with laundry in units, separate utilities, and recent updates including new high-efficiency gas heating and electric.
Property Size4,846 SF
Price / SF$226.99
Days on Market3
Property Features for 34 Ocean Terrace
General Information
- Standard status
- Active
- Size
- 4,846 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
Toner Real Estate,LLC
(781) 780-9054
Listed by
Colleen Toner
Source
Stevebremis
Added: Jul 19 Updated: Jul 21 at 6:27AM Checked: Jul 21 at 6:27AM
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 Toner Real Estate,LLC
Investment Insights
Based on property information with market context.
This three-family, 16-room property offers a well-maintained layout with classic architectural details and hardwood flooring. Across its seven bedrooms and 3.5 bathrooms, the units are described as generously sized and sun-filled, with flexible living space. Practical convenience is built in with laundry located within the units and separate utilities. Recent improvements include newer high-efficiency gas heating systems, newer windows, and updated electric.
The property is located on Ocean Terrace in Lynn, positioned on the Swampscott/Lynn line. The offering highlights ocean views and a waterfront-oriented setting.
Overall, it presents as a sizable income-focused residential property with in-unit laundry and multiple utility setups, supported by the noted building upgrades.
The property is located on Ocean Terrace in Lynn, positioned on the Swampscott/Lynn line. The offering highlights ocean views and a waterfront-oriented setting.
Overall, it presents as a sizable income-focused residential property with in-unit laundry and multiple utility setups, supported by the noted building upgrades.
Key Highlights
- 3‑family home built in 1910 with 16 rooms, 7 bedrooms, and 3.5 bathrooms
- Laundry available in units plus separate utilities for added convenience for owners and tenants
- Recent improvements include newer high‑efficiency gas heating systems
Local Financial Insights For Multifamily LT 5
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 | $148.3k | $30.60 |
| − Vacancy | −$9.1k | −$1.89 |
| EGI | $139.1k | $28.71 |
| − OpEx | −$41.7k | −$8.61 |
| NOI | $97.4k | $20.10 |
4,846 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.39M
$1.22M – $1.62M
NOI $97,397 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,630 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $120,026 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family with laundry in units, separate utilities, and recent updates including new high-efficiency gas heating and electric.
Where is this triplex located?
The property is located at 34 Ocean Terrace 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: 3‑family home built in 1910 with 16 rooms, 7 bedrooms, and 3.5 bathrooms; Laundry available in units plus separate utilities for added convenience for owners and tenants; Recent improvements include newer high‑efficiency gas heating systems
