Building Details

Building Size 3,304 SF

Year Built 1910

Listing Agency: Clements Realty Group

Listed By: Eugene L. Clements Show Phone

Source: Classifiedrealtygroup

Added: Aug 9 Changed: Oct 6 Last Checked: Oct 16 at 6:10AM

Report an Issue

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 Clements Realty Group

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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.

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 / Yr

$66,405

Cap Rate

6.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,328,100 $1.3M

Cap Rate 7%

$948,643 $948.6K

Cap Rate 9%

$737,833 $737.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,304 SF

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 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 (±1% cap)

NOI $66,405 @ 7.0% cap · market cap 6.85%

Second Best

Apartment 5plus

$824.3K

$721.3K – $961.7K (±1% cap)

NOI $57,701 @ 7.0% cap · market cap 5.95%

Theoretical Best

Office A

$1.17M

$1.02M – $1.36M (±1% cap)

NOI $81,833 @ 7.0% cap · market cap 8.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Computer & Electronic Repair Skin Care Clinic (Bike/Boat/Book/etc) Store Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

3-Unit Multifamily Property

11 Sachem St, Lynn, MA 01902

$949,900

3,199 SF

View details

Well-Maintained Three-Unit Residential Property

73 Woodman Street, Lynn, MA 01905

$965,000

3,594 SF

View details

Three-Family Residential Income

9 Hamilton Ave, Lynn, MA 01902

$1,149,900

View details

Renovated-Unit Triplex

49 Camden St, Lynn, MA 01905

$989,000

View details

Renovated Owner’s Unit Triplex

48-50 Laighton St, Lynn, MA 01902

$1,075,000

3,606 SF

View details

Three-Unit Income Property

10 Adams St, Lynn, MA 01902

$1,050,000

3,816 SF

View details

Updated Triplex with Parking

89 Eutaw Ave, Lynn, MA 01902

$999,000

View details

Renovated 3-Family Income Property

204 Eastern Avenue, Lynn, MA 01902

$1,349,999

3,567 SF

View details

Renovated Third-Floor Unit Triplex

12 Linwood Pl, Lynn, MA 01905

$849,900

2,779 SF

View details

Three-Family Property with Porches

2 Mace Pl, Lynn, MA 01902

$950,000

4,432 SF

View details

Renovated Mixed-Use Property

90 Essex St, Lynn, MA 01902

$1,795,000

0.12 Acres

View details

Duplex with Fenced Yard

98 Lafayette Park, Lynn, MA 01902

$975,000

3,425 SF

View details

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