Three-Unit Residential Income
504 Summer St Lynn, MA 01905
504 Summer St, Lynn, MA, 01905
$1,050,000
For Sale
$1,050,000
Three units each offer two bedrooms, full baths, kitchens, and open living areas, with a fire alarm and sprinkler system.
Property Size2,939 SF
Price / SF$357.26
Days on Market69
Property Features for 504 Summer St
General Information
- Standard status
- Active
- Size
- 2,939 SF
- Property subtype
- 3 Family
Building Details
- Year Built
- 1900
Listing agency
Martinez Realty Group
(617) 271-0092
Listed by
Erika Orellana
(617) 271-0092
Source
Lockandkeyre
Added: May 14 Updated: Jul 21 at 12:41AM Checked: Jul 21 at 3:12AM
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 Martinez Realty Group
Investment Insights
Based on property information with market context.
This three-unit residential income property features three separate units, each with two bedrooms, a full bathroom, a kitchen, and an open-concept living area. The third-floor unit is vacant, while the first- and second-floor units are occupied by tenants at will. Fire alarm and sprinkler systems are in place.
The property is located at 504 Summer St in Lynn, MA. It is being offered for sale and is scheduled for open houses on Saturday, May 16 from 1:00 PM to 3:00 PM and Sunday, May 17 from 11:00 AM to 1:00 PM.
The property is located at 504 Summer St in Lynn, MA. It is being offered for sale and is scheduled for open houses on Saturday, May 16 from 1:00 PM to 3:00 PM and Sunday, May 17 from 11:00 AM to 1:00 PM.
Key Highlights
- 3‑family property built in 1900 with three 2‑bedroom units.
- Each unit includes a full bathroom, kitchen, and open‑concept living area.
- Fire alarm and sprinkler system installed in the building.
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 | $89.9k | $30.60 |
| − Vacancy | −$5.5k | −$1.89 |
| EGI | $84.4k | $28.71 |
| − OpEx | −$25.3k | −$8.61 |
| NOI | $59.1k | $20.10 |
2,939 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$843.8K
$738.4K – $984.5K
NOI $59,069 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$733.2K
$641.6K – $855.4K
NOI $51,326 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.04M
$909.9K – $1.21M
NOI $72,793 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three units each offer two bedrooms, full baths, kitchens, and open living areas, with a fire alarm and sprinkler system.
Where is this triplex located?
The property is located at 504 Summer St Lynn, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 3‑family property built in 1900 with three 2‑bedroom units.; Each unit includes a full bathroom, kitchen, and open‑concept living area.; Fire alarm and sprinkler system installed in the building.
