Duplex with Private
New
For Sale
$809,000
382 Eastern Avenue, Lynn, MA 01902
Both residences will be vacant at closing, leaving occupancy decisions to the next owner.
Property Size2,352 SF
Price / SF$343.96
Days on Market4
Property Features for 382 Eastern Avenue
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
private front entrance
separate utilities
gas heating
separate common-area electric panel
Building Details
Year Built
1925
Listing Agency:
PRIVI Realty LLC
Listed By:
Johnny Long
(617) 275-1415
Source:
Residentialproperties
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 14 at 10:57PM
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 PRIVI Realty LLC
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Investment Insights
Based on property information with market context.
This 2,352-square-foot duplex at 382 Eastern Avenue contains two units, each with a private front entrance and a current two-bedroom layout. The floor plans may accommodate use as three bedrooms per unit. Separate utilities serve the residences, with gas heating and a dedicated electric panel for common areas. The building dates to 1925; updates include a roof replacement in 2016, a gas combination boiler for Unit 2 installed in 2022, and insulation work completed through Mass Save in 2026.
Parking includes two garage spaces and six or more additional off-street spaces. The property is near the Swampscott and Salem lines, with bus routes 455, 450, and 436 nearby. Swampscott Commuter Rail station is less than 1 mile away. Beaches, shopping, and dining are also identified in the surrounding area.
Parking includes two garage spaces and six or more additional off-street spaces. The property is near the Swampscott and Salem lines, with bus routes 455, 450, and 436 nearby. Swampscott Commuter Rail station is less than 1 mile away. Beaches, shopping, and dining are also identified in the surrounding area.
Key Highlights
- Two units, each with a private front entrance and a current 2‑bedroom layout
- Both units delivered vacant at closing
- Each unit has potential for a 3‑bedroom layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,271
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$945,420
$945.4K
Cap Rate 7%
$675,300
$675.3K
Cap Rate 9%
$525,233
$525.2K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$72.0K $30.60/SF
− Vacancy
−$4.4K −$1.89/SF
EGI
$67.5K $28.71/SF
− OpEx
−$20.3K −$8.61/SF
NOI
$47.3K $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 Rate 5%
$945,420
Cap Rate 7%
$675,300
Cap Rate 9%
$525,233
Alternative Uses
Best Use
Multifamily LT 5
$675.3K
$590.9K – $787.9K
NOI $47,271 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$586.8K
$513.4K – $684.6K
NOI $41,075 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$832.2K
$728.2K – $970.9K
NOI $58,254 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
732
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences will be vacant at closing, leaving occupancy decisions to the next owner.
Where is this duplex located?
The property is located at 382 Eastern Avenue Lynn, MA.
What is the asking price?
The asking price for this property is $809,000.
What are key features of this property?
This property features: Two units, each with a private front entrance and a current 2‑bedroom layout; Both units delivered vacant at closing; Each unit has potential for a 3‑bedroom layout
