Lead-Compliant 6-Family
For Sale
$1,494,986
35-37 Park Street, Lynn, MA 01905
Six-family multifamily property with lead compliance and recent exterior upgrades, including a new front entrance and foundation work.
Property Size5,631 SF
Price / SF$265.49
Days on Market181
Property Features for 35-37 Park Street
General Information
Standard status
Active
Size
5,631 SF
Property subtype
Multi-family
Financials
Cap Rate
7.2%
Business Included
Yes
Additional Details
Highway Access
Yes
Multifamily Units
6
Building Details
Year Built
1900
Listing Agency:
United Brokers
Listed By:
Matt Tasgin · License #9586146
(857) 361-8584
Source:
Miketoomeyrealestate
Added: Apr 23
Changed: Oct 19
Last Checked: Oct 19 at 8:31AM
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 United Brokers
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 35-37 Park Street property is a 6-family multifamily building offered for sale with reported 7.2% current CAP. The property is stated to be fully lead compliant.
Recent exterior updates include a new front entrance with granite steps, new fencing, new concrete around the foundation, new landscaping, repaired siding, and a rear porch. The property is described as conveniently located near major highways and public transportation, as well as shopping, restaurants, schools, parks, and downtown Lynn.
Recent exterior updates include a new front entrance with granite steps, new fencing, new concrete around the foundation, new landscaping, repaired siding, and a rear porch. The property is described as conveniently located near major highways and public transportation, as well as shopping, restaurants, schools, parks, and downtown Lynn.
Key Highlights
- 6‑family multifamily property at 35‑37 Park St with current 7.2% CAP
- Lead compliant property
- New front entrance with granite steps
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,339
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,966,780
$2.0M
Cap Rate 7%
$1,404,843
$1.4M
Cap Rate 9%
$1,092,656
$1.1M
Market Conditions
NOI Build-Up for 5,631 SF
Gross rent
$191.2K $33.96/SF
− Vacancy
−$12.4K −$2.21/SF
EGI
$178.8K $31.75/SF
− OpEx
−$80.5K −$14.29/SF
NOI
$98.3K $17.46/SF
Area
Lynn, MA
Vacancy
6.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,966,780
Cap Rate 7%
$1,404,843
Cap Rate 9%
$1,092,656
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.23M – $1.64M
NOI $98,339 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,469 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,772
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six-family multifamily property with lead compliance and recent exterior upgrades, including a new front entrance and foundation work.
Where is this apartment building located?
The property is located at 35-37 Park Street Lynn, MA.
What is the asking price?
The asking price for this property is $1,494,986.
What are key features of this property?
This property features: 6‑family multifamily property at 35‑37 Park St with current 7.2% CAP; Lead compliant property; New front entrance with granite steps
