Three-Unit Multifamily
For Sale
$969,000
56 Orchard Street, 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 Market135
Property Features for 56 Orchard Street
General Information
Standard status
Active
Size
3,304 SF
Total Parking Spaces
4
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Building Details
Year Built
1910
Listing Agency:
Clements Realty Group
Listed By:
Eugene L. Clements
(978) 998-9600
Source:
Stonewallre
Added: Jun 17
Changed: Oct 28
Last Checked: Oct 24 at 4:28PM
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
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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 / 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
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
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.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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 Street 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
