Lead-Compliant Six-Family Apartment
For Sale
$1,494,986
35-37 Park St, Lynn, MA 01905
Updated exterior features include a front entrance, granite steps, fencing, landscaping, and a rear porch.
Property Size5,631 SF
Days on Market92
Property Features for 35-37 Park St
General Information
Standard status
Active
Size
5,631 SF
Property subtype
5-9 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Cap Rate
7.2%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$12,063
Building Details
Building Size
5,631 SF
Year Built
1900
Listing Agency:
United Brokers
(857) 361-8584
Listed By:
Matt Tasgin · License #9586146
Source:
Bostonluxurysuburbs
Added: May 14
Changed: Aug 8
Last Checked: Aug 12 at 2:07PM
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
Investment Insights
Based on property information with market context.
35-37 Park St is a six-family apartment property with exterior improvements that 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 was built in 1900 and is fully lead compliant. The current CAP rate is 7.2%.
The property is located in Lynn near major highways, public transportation, shopping, restaurants, schools, parks, and downtown Lynn. Its six-family configuration provides multiple residential units within a single multifamily asset.
The property is located in Lynn near major highways, public transportation, shopping, restaurants, schools, parks, and downtown Lynn. Its six-family configuration provides multiple residential units within a single multifamily asset.
Key Highlights
- Six‑family apartment property at 35‑37 Park St, Lynn, MA 01905
- 7.2% current CAP
- Fully lead compliant
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
$98,339
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
6.58%
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%
$1,966,780
$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
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
$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 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%
$1,966,780
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.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,563
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated exterior features include a front entrance, granite steps, fencing, landscaping, and a rear porch.
Where is this apartment building located?
The property is located at 35-37 Park St 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: Six‑family apartment property at 35‑37 Park St, Lynn, MA 01905; 7.2% current CAP; Fully lead compliant
