Renovated Four-Unit Mixed-Use
For Sale
$1,160,000
431-433 Chatham, Lynn, MA 01902
Fully renovated four-unit property with two street-level commercial spaces and two apartments, plus dedicated storage and private decks.
Property Size3,442 SF
Price / SF$337.01
Days on Market308
Property Features for 431-433 Chatham
General Information
Standard status
Active
Size
3,442 SF
Total Parking Spaces
12
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Stephen Dixon
(603) 548-5315
Source:
Burkelordrealestate
Added: Sep 28, 2025
Changed: Jul 10
Last Checked: Aug 1 at 4:03AM
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 Compass
Investment Insights
Based on property information with market context.
This fully renovated four-unit mixed-use building features two street-level commercial spaces and two updated residential apartments. Each commercial unit includes a private restroom and dedicated basement storage, making the setup practical for retail, office, salon, or service use. The residential component consists of a spacious 2-bedroom, 1-bath apartment with an open-concept layout and a large private deck, currently delivered vacant, and a 1-bedroom, 1-bath apartment with a private deck that is occupied by a tenant-at-will paying $2,450 per month and willing to renew.
The property sits in the heart of East Lynn, with two street-facing commercial offerings and access supported by parking. On-site parking is listed as 10–12 spaces, along with ample street parking.
For buyers, the mix of income-producing commercial and residential units can support a range of strategies, from investor ownership to owner-user operation. The smaller commercial unit is leased at $1,800 per month on a 3-year term with annual rent increases, while the larger commercial space generates $2,300 per month and may be delivered vacant at closing, allowing flexibility in planning future use.
The property sits in the heart of East Lynn, with two street-facing commercial offerings and access supported by parking. On-site parking is listed as 10–12 spaces, along with ample street parking.
For buyers, the mix of income-producing commercial and residential units can support a range of strategies, from investor ownership to owner-user operation. The smaller commercial unit is leased at $1,800 per month on a 3-year term with annual rent increases, while the larger commercial space generates $2,300 per month and may be delivered vacant at closing, allowing flexibility in planning future use.
Key Highlights
- Fully renovated four‑unit mixed‑use building (Year Built 1900) with two street‑level commercial spaces and two apartments in East Lynn
- Two commercial units: each includes a private restroom and dedicated basement storage
- Commercial income includes $1,800/month (3‑year term with annual rent increases) and $2,300/month, with the larger unit may be delivered vacant at closing
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.3k | $30.60 |
| − Vacancy | −$6.5k | −$1.89 |
| EGI | $98.8k | $28.71 |
| − OpEx | −$29.6k | −$8.61 |
| NOI | $69.2k | $20.10 |
3,442 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$988.3K
$864.7K – $1.15M
NOI $69,179 @ 7.0% cap · market cap 5.96%
Second Best
Mixed Use
$933.0K
$816.4K – $1.09M
NOI $65,312 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,251 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
881
Businesses Nearby
Under-served
Demand for This Use
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?
Storefront property - Fully renovated four-unit property with two street-level commercial spaces and two apartments, plus dedicated storage and private decks.
Where is this storefront property located?
The property is located at 431-433 Chatham Lynn, MA.
What is the asking price?
The asking price for this property is $1,160,000.
What are key features of this property?
This property features: Fully renovated four‑unit mixed‑use building (Year Built 1900) with two street‑level commercial spaces and two apartments in East Lynn; Two commercial units: each includes a private restroom and dedicated basement storage; Commercial income includes $1,800/month (3‑year term with annual rent increases) and $2,300/month, with the larger unit may be delivered vacant at closing
