Multifamily Apartment
44 Estes Street Portfolio Lynn, MA 01902
44 Estes Street Portfolio, Lynn, MA, 01902
$13,299,000
For Sale
$13,299,000
Five-property, 62-unit portfolio with mostly one-bedroom units and select on-site parking and laundry facilities.
Property Size42,486 SF
Price / SF$313.02
Days on Market10
Property Features for 44 Estes Street Portfolio
General Information
- Standard status
- Active
- Size
- 42,486 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1926
Listing agency
Boston Realty Advisors
Listed by
Daniel Alper
(978) 922-3683
Source
Jbarrettrealty
Added: Jul 12 Updated: Jul 20 at 11:34PM Checked: Jul 21 at 9:15AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This for-sale multifamily portfolio totals 62 units across five separate properties: 44 and 38 Estes Street, 8-10 and 12-14 Fortesque Street, and 32 Chestnut Street. The unit mix is primarily one-bedroom, with select two-bedroom and studio units. The properties are professionally maintained, with a history of capital improvements, and several of the buildings include on-site parking and laundry facilities.
The assets are concentrated within one of Lynn’s established residential neighborhoods, with close proximity that supports centralized leasing, management, and maintenance.
Current vacancy provides an opportunity to lease available units, while occupied units generate in-place income. An assumable financing option is available under a portfolio loan—ask the listing agent for details.
The assets are concentrated within one of Lynn’s established residential neighborhoods, with close proximity that supports centralized leasing, management, and maintenance.
Current vacancy provides an opportunity to lease available units, while occupied units generate in-place income. An assumable financing option is available under a portfolio loan—ask the listing agent for details.
Key Highlights
- Five‑property, 62‑unit multifamily portfolio in Lynn, built in 1926.
- Primarily one‑bedroom unit mix, with select two‑bedroom and studio units.
- Several properties include on‑site parking and laundry facilities.
Local Financial Insights For Apartment 5plus
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 | $1.44M | $33.96 |
| − Vacancy | −$93.8k | −$2.21 |
| EGI | $1.35M | $31.75 |
| − OpEx | −$607.1k | −$14.29 |
| NOI | $742.0k | $17.46 |
42,486 SF · lease $33.96/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$10.60M
$9.27M – $12.37M
NOI $741,973 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.03M
$13.15M – $17.54M
NOI $1,052,293 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-property, 62-unit portfolio with mostly one-bedroom units and select on-site parking and laundry facilities.
Where is this apartment building located?
The property is located at 44 Estes Street Portfolio Lynn, MA.
What is the asking price?
The asking price for this property is $13,299,000.
What are key features of this property?
This property features: Five‑property, 62‑unit multifamily portfolio in Lynn, built in 1926.; Primarily one‑bedroom unit mix, with select two‑bedroom and studio units.; Several properties include on‑site parking and laundry facilities.
