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.
- Added:
- Oct 18, 2025
- Days on Market:
- 243
- Last Refresh:
- Jun 13 at 3:33 am
Property Features for 431-433 Chatham
General Information
- Standard status
- Active
- Size
- 3,442 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agent Stephen Dixon (603) 548-5315
Listing office Compass
Listing date Oct 18, 2025
Source Burkelordrealestate
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
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
- Residential units: large 2BD/1BA apartment delivered vacant, with open‑concept layout and a large private deck
- 1BD/1BA apartment currently tenant‑at‑will paying $2,450/month and willing to renew, with a private deck
- On‑site parking for 10‑12 spaces plus ample street parking
Overview
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.
Local 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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lynn
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.9417533
- Latitude
- 42.4792013
