Multifamily Property with Off-Street
48 Saratoga St, Lynn, MA 01902
For Sale
$799,000
Residential income property with central air, natural gas service, and a fenced exterior.
Property Size2,844 SF
Days on Market228
Property Features for 48 Saratoga St
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Leading Edge Real Estate
Listed By:
The Bill Butler Group
(617) 771-9376
Source:
Allisonmazer
Added: Mar 31
Changed: Nov 9
Last Checked: Nov 12 at 4:19PM
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 Leading Edge Real Estate
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Investment Insights
Based on property information with market context.
This 2,844-square-foot multifamily property at 48 Saratoga St in Lynn, Massachusetts, was built in 1927 and is zoned R1. Interior features include central air, ceiling fans, natural gas service, zoned systems, and a gas water heater. The property also offers a pantry, along with a full, partially finished lower level featuring walk-out access, interior entry, and concrete construction.
Exterior improvements include fencing and paved off-street parking. The property is reached via Western to Fay to Saratoga and is located in Essex County.
Exterior improvements include fencing and paved off-street parking. The property is reached via Western to Fay to Saratoga and is located in Essex County.
Key Highlights
- 2,844‑square‑foot multifamily property built in 1927
- Zoned R1
- Central air, ceiling fans, and natural gas service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,160
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,200
$1.1M
Cap Rate 7%
$816,571
$816.6K
Cap Rate 9%
$635,111
$635.1K
Market Conditions
NOI Build-Up for 2,844 SF
Gross rent
$87.0K $30.60/SF
− Vacancy
−$5.4K −$1.89/SF
EGI
$81.7K $28.71/SF
− OpEx
−$24.5K −$8.61/SF
NOI
$57.2K $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%
$1,143,200
Cap Rate 7%
$816,571
Cap Rate 9%
$635,111
Alternative Uses
Best Use
Multifamily LT 5
$816.6K
$714.5K – $952.7K
NOI $57,160 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$709.5K
$620.8K – $827.8K
NOI $49,667 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$1.01M
$880.5K – $1.17M
NOI $70,440 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
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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
$456,000
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Lynn, MA
Properties on Market for Multifamily properties in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income property with central air, natural gas service, and a fenced exterior.
Where is this multifamily property located?
The property is located at 48 Saratoga St Lynn, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,844‑square‑foot multifamily property built in 1927; Zoned R1; Central air, ceiling fans, and natural gas service
