Six-Unit Apartment
For Sale
$1,700,000
43 Highrock Street, Lynn, MA 01902
Well-maintained six-unit apartment building with spacious three-bedroom units and recently renovated apartments.
Property Size4,230 SF
Price / SF$401.89
Days on Market116
Property Features for 43 Highrock Street
General Information
Standard status
Active
Size
4,230 SF
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$134,857
Financials
Cap Rate
7.1%
Business Included
Yes
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$15,914
Building Details
Building Size
4,230 SF
Year Built
1900
Stories
5
Tenancy
Multi
Listing Agency:
Clements Realty Group
(781) 595-9600
Listed By:
Eugene L. Clements
(978) 998-9600
Source:
Churchillprop
Added: Jun 17
Changed: Oct 6
Last Checked: Oct 9 at 5:21PM
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 Clements Realty Group
Investment Insights
Based on property information with market context.
This six-unit apartment building offers a consistent unit mix with spacious three-bedroom homes. The property has been professionally maintained and includes three-year-old heating system infrastructure. Recent updates include extensive renovations to three of the units, featuring new bathrooms, refinished hardwood floors, fresh paint, and additional improvements.
Per the available records, all units have Letters of Deleading Compliance. The building is presented as a stabilized, income-producing asset with an established rent roll.
With multiple units receiving capital upgrades, the current configuration supports ongoing rental operations across the six homes.
Per the available records, all units have Letters of Deleading Compliance. The building is presented as a stabilized, income-producing asset with an established rent roll.
With multiple units receiving capital upgrades, the current configuration supports ongoing rental operations across the six homes.
Key Highlights
- Well‑maintained six‑unit apartment building built in 1900
- Unit mix features spacious three‑bedroom units throughout
- Three units have extensive recent renovations: brand‑new bathrooms, refinished hardwood floors, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,872
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,477,440
$1.5M
Cap Rate 7%
$1,055,314
$1.1M
Cap Rate 9%
$820,800
$820.8K
Market Conditions
NOI Build-Up for 4,230 SF
Gross rent
$143.7K $33.96/SF
− Vacancy
−$9.3K −$2.21/SF
EGI
$134.3K $31.75/SF
− OpEx
−$60.4K −$14.29/SF
NOI
$73.9K $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%
$1,477,440
Cap Rate 7%
$1,055,314
Cap Rate 9%
$820,800
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$923.4K – $1.23M
NOI $73,872 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,769 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,618
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained six-unit apartment building with spacious three-bedroom units and recently renovated apartments.
Where is this apartment building located?
The property is located at 43 Highrock Street Lynn, MA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Well‑maintained six‑unit apartment building built in 1900; Unit mix features spacious three‑bedroom units throughout; Three units have extensive recent renovations: brand‑new bathrooms, refinished hardwood floors, and fresh paint
