Vacant Two-Family Residential
55 Lovers Leap Avenue Lynn, MA 01904
55 Lovers Leap Avenue, Lynn, MA, 01904
$789,900
For Sale
$789,900
Well-maintained 2-family with hardwood floors, updated windows and roof, and a walk-out basement on a fenced corner lot.
Property Size2,285 SF
Price / SF$345.69
Days on Market91
Property Features for 55 Lovers Leap Avenue
General Information
- Standard status
- Active
- Size
- 2,285 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
RE/MAX 360
(978) 560-8500
Listed by
Katie DiVirgilio
Source
Stevebremis
Added: Apr 22 Updated: Jul 21 at 2:14AM Checked: Jul 21 at 7:30AM
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 RE/MAX 360
Investment Insights
Based on property information with market context.
This well-maintained two-family residence is larger than it appears and is offered vacant and ready for a new owner. The property features a mansard roof and hardwood flooring, with updates that include replacement windows, a newer roof, CB electric panels, and a repaved driveway. Interior highlights include first-floor living with a large bow window, wall AC units, ceiling fans, an eat-in kitchen, and flexible dining/den space, along with bedrooms that offer large, lighted double closets.
The second-floor unit offers bright living with hardwood floors, wall AC, ceiling fans, and a sunny kitchen, with 2–3 bedrooms. A huge, clean, well-lit basement provides substantial additional storage, including separate utilities and laundry, and includes walk-out access to the yard.
Outside, the home sits on a large, level fenced corner lot with sprinklers. The driveway provides parking for approximately 3–4 cars.
The second-floor unit offers bright living with hardwood floors, wall AC, ceiling fans, and a sunny kitchen, with 2–3 bedrooms. A huge, clean, well-lit basement provides substantial additional storage, including separate utilities and laundry, and includes walk-out access to the yard.
Outside, the home sits on a large, level fenced corner lot with sprinklers. The driveway provides parking for approximately 3–4 cars.
Key Highlights
- Well‑maintained 2‑family built in 1910 with hardwood floors throughout and a corner lot
- Updates include replacement windows, newer roof, and CB electric panels
- Vacant property with driveway repaved and parking for 3–4 cars
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 | $69.9k | $30.60 |
| − Vacancy | −$4.3k | −$1.89 |
| EGI | $65.6k | $28.71 |
| − OpEx | −$19.7k | −$8.61 |
| NOI | $45.9k | $20.10 |
2,285 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$656.1K
$574.1K – $765.4K
NOI $45,925 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$570.1K
$498.8K – $665.1K
NOI $39,905 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$808.5K
$707.4K – $943.3K
NOI $56,595 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained 2-family with hardwood floors, updated windows and roof, and a walk-out basement on a fenced corner lot.
Where is this duplex located?
The property is located at 55 Lovers Leap Avenue Lynn, MA.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: Well‑maintained 2‑family built in 1910 with hardwood floors throughout and a corner lot; Updates include replacement windows, newer roof, and CB electric panels; Vacant property with driveway repaved and parking for 3–4 cars
