3-Unit Triplex with Off-Street
New
For Sale
$1,249,900
47 Broad Street, Lynn, MA 01902
Three-bedroom apartments are complemented by basement storage, rear decks, and covered outdoor space.
Property Size4,671 SF
Price / SF$267.59
Days on Market6
Property Features for 47 Broad Street
General Information
Standard status
Active
Size
4,671 SF
Total Parking Spaces
6
Property subtype
Multi-family
Occupancy
100%
Financials
Gross Income
$115,200
Average Monthly Rent
$3,200
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
full basement
rear decks
Building Details
Year Built
1835
Tenancy
Multi
Listing Agency:
J. Barrett & Company
Listed By:
Melissa Dias Lopes
(617) 835-2394
Source:
Jbarrettrealty
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 9:51AM
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 J. Barrett & Company
Investment Insights
Based on property information with market context.
This 3-unit residential property contains three apartments, each with 3 bedrooms and 1 full bath. The building measures 4,671 square feet and dates to 1835. Additional features include a full basement, rear decks with covered outdoor areas, and 6 off-street parking spaces. All units are occupied by tenants at will.
The property is near Lynn’s Diamond District, Lynn Shore Drive, and Lynn Beach, with access to MBTA bus service, the Lynn commuter rail station, shopping, parks, and major routes. The adjacent mixed-use property at 43 Broad Street is also available separately.
The property is near Lynn’s Diamond District, Lynn Shore Drive, and Lynn Beach, with access to MBTA bus service, the Lynn commuter rail station, shopping, parks, and major routes. The adjacent mixed-use property at 43 Broad Street is also available separately.
Key Highlights
- Three apartments, each with 3 bedrooms and 1 full bath
- 4,671 square feet; built in 1835
- 6 off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,880
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,600
$1.9M
Cap Rate 7%
$1,341,143
$1.3M
Cap Rate 9%
$1,043,111
$1.0M
Market Conditions
NOI Build-Up for 4,671 SF
Gross rent
$142.9K $30.60/SF
− Vacancy
−$8.8K −$1.89/SF
EGI
$134.1K $28.71/SF
− OpEx
−$40.2K −$8.61/SF
NOI
$93.9K $20.10/SF
Area
Lynn, MA
Vacancy
6.17%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,600
Cap Rate 7%
$1,341,143
Cap Rate 9%
$1,043,111
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,880 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,574 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,691 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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?
Triplex - Three-bedroom apartments are complemented by basement storage, rear decks, and covered outdoor space.
Where is this triplex located?
The property is located at 47 Broad Street Lynn, MA.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Three apartments, each with 3 bedrooms and 1 full bath; 4,671 square feet; built in 1835; 6 off‑street parking spaces
