Three-Unit Multifamily
For Sale
$969,000
56 Orchard St, Lynn, MA 01905
Multifamily asset with varied unit sizes, individual utilities, gas heating, and off-street parking.
Property Size3,304 SF
Price / SF$293.28
Days on Market65
Property Features for 56 Orchard St
General Information
Standard status
Active
Size
3,304 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
R4
Net Operating Income
$67,973
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,987
Building Details
Building Size
3,304 SF
Year Built
1910
Stories
4
Listing Agency:
www.HomeZu.com
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 30
Changed: Sep 1
Last Checked: Sep 1 at 4:26PM
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 www.HomeZu.com
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains two three-bedroom residences and one two-bedroom residence within a 3,304-square-foot building constructed in 1910. Each unit has separate utilities, and the property is equipped with three gas heating systems. Vinyl siding provides a low-maintenance exterior, while off-street parking accommodates four vehicles.
Located at 56 Orchard St in Lynn, Massachusetts, the property carries R4 zoning. The unit mix and individual utility setup support distinct residential occupancy across the building, with parking and established building improvements already in place.
Located at 56 Orchard St in Lynn, Massachusetts, the property carries R4 zoning. The unit mix and individual utility setup support distinct residential occupancy across the building, with parking and established building improvements already in place.
Key Highlights
- Three‑unit configuration with two three‑bedroom units and one two‑bedroom unit
- 3,304‑square‑foot multifamily building constructed in 1910
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,405
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,328,100
$1.3M
Cap Rate 7%
$948,643
$948.6K
Cap Rate 9%
$737,833
$737.8K
Market Conditions
NOI Build-Up for 3,304 SF
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.
Gross rent
$101.1K $30.60/SF
− Vacancy
−$6.2K −$1.89/SF
EGI
$94.9K $28.71/SF
− OpEx
−$28.5K −$8.61/SF
NOI
$66.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,328,100
Cap Rate 7%
$948,643
Cap Rate 9%
$737,833
Alternative Uses
Best Use
Multifamily LT 5
$948.6K
$830.1K – $1.11M
NOI $66,405 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$824.3K
$721.3K – $961.7K
NOI $57,701 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,833 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 01905, MA
27,761
Population
9,583
Households
2.9
Avg Household Size
34
Median Age
21%
College-Educated
79%
High-School Grad
3.1 sq mi
ZIP Area
8,955
Density / Sq Mi
$84,341
Median Household Income
$42,983
Median Earnings
$1,749
Median Rent
$443,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily asset with varied unit sizes, individual utilities, gas heating, and off-street parking.
Where is this triplex located?
The property is located at 56 Orchard St Lynn, MA.
What is the asking price?
The asking price for this property is $969,000.
What are key features of this property?
This property features: Three‑unit configuration with two three‑bedroom units and one two‑bedroom unit; 3,304‑square‑foot multifamily building constructed in 1910; Separate utilities for each unit
