Multifamily Property with Carriage House
For Sale
$1,190,000
4-4A Broad St, Lynn, MA 01902
Recently remodeled multifamily with 8 parking spaces, basement coin laundry, and a carriage house planned for an additional protected ADU.
Property Size4,089 SF
Price / SF$291.02
Days on Market122
Property Features for 4-4A Broad St
General Information
Standard status
Active
Size
4,089 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
R3
Additional Details
Sprinkler System
Yes
Amenities
coin operated laundry
Building Details
Building Size
4,089 SF
Year Built
1900
Stories
4
Listing Agency:
Atlantic Coast Homes,Inc
Listed By:
David Potter · License #9519939
(978) 777-4444
Source:
Hometown-team
Added: May 7
Changed: Sep 4
Last Checked: Jul 21 at 4:39PM
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 Atlantic Coast Homes,Inc
Investment Insights
Based on property information with market context.
This investment multifamily has been recently remodeled and is ready to rent, with updates including vinyl siding, fresh paint, new carpet, and luxury vinyl tile. A sprinkler system is installed, and the basement includes coin-operated laundry. The property also includes a separate carriage house where a protected ADU is planned for an additional unit.
At present, one tenant occupies a second-floor one-bedroom unit, while the other units were left vacant to complete renovations and allow a new owner to select tenants. The home offers ample parking with 8 spaces and is described as being close to the beach, with a bus line to Boston available on the street. Easy to show by appointment only to provide investors time to review the opportunity.
At present, one tenant occupies a second-floor one-bedroom unit, while the other units were left vacant to complete renovations and allow a new owner to select tenants. The home offers ample parking with 8 spaces and is described as being close to the beach, with a bus line to Boston available on the street. Easy to show by appointment only to provide investors time to review the opportunity.
Key Highlights
- Recently remodeled multifamily with electric heat and shingle roof (year built 1900)
- 8 on‑site parking spaces
- Basement coin‑operated laundry for additional income
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
$71,410
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
6.00%
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%
$1,428,200
$1.4M
Cap Rate 7%
$1,020,143
$1.0M
Cap Rate 9%
$793,444
$793.4K
Market Conditions
NOI Build-Up for 4,089 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
$138.9K $33.96/SF
− Vacancy
−$9.0K −$2.21/SF
EGI
$129.8K $31.75/SF
− OpEx
−$58.4K −$14.29/SF
NOI
$71.4K $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%
$1,428,200
Cap Rate 7%
$1,020,143
Cap Rate 9%
$793,444
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$892.6K – $1.19M
NOI $71,410 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,276 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,760
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Recently remodeled multifamily with 8 parking spaces, basement coin laundry, and a carriage house planned for an additional protected ADU.
Where is this multifamily property located?
The property is located at 4-4A Broad St Lynn, MA.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Recently remodeled multifamily with electric heat and shingle roof (year built 1900); 8 on‑site parking spaces; Basement coin‑operated laundry for additional income
