12-Unit Apartment
71 Harwood St, Lynn, MA 01902
For Sale
$3,100,000
Three-story configuration includes one-bedroom, one-bath residences, with four units renovated.
Property Size10,224 SF
Price / SF$303.21
Days on Market12
Property Features for 71 Harwood St
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
Unfinished
Wood,Tile,Vinyl
12
No
3
Public Record
10224
Public
0.18
6
Paved Drive,Off Street,Paved
Stone
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Lamacchia Realty, Inc
Listed By:
Katy Loucks
Source:
Popularproperties
Added: Oct 29
Changed: Nov 7
Last Checked: Nov 8 at 8:17AM
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 Lamacchia Realty, Inc
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Investment Insights
Based on property information with market context.
This 10,224-square-foot apartment property was built in 1905 and contains 12 one-bedroom, one-bath units across three stories. Four apartments have been renovated. Improvements made over the past decade include work to apartment interiors, building systems, and shared areas; hardwood floors and staircases in the common areas have also been refinished.
The property is near public transportation, shopping, dining, and schools.
The property is near public transportation, shopping, dining, and schools.
Key Highlights
- 12 units, each with 1 bedroom and 1 bathroom
- 10,224 square feet across three stories
- Four units renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$178,551
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,571,020
$3.6M
Cap Rate 7%
$2,550,729
$2.6M
Cap Rate 9%
$1,983,900
$2.0M
Market Conditions
NOI Build-Up for 10,224 SF
Gross rent
$347.2K $33.96/SF
− Vacancy
−$22.6K −$2.21/SF
EGI
$324.6K $31.75/SF
− OpEx
−$146.1K −$14.29/SF
NOI
$178.6K $17.46/SF
Area
Lynn, MA
Vacancy
6.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,571,020
Cap Rate 7%
$2,550,729
Cap Rate 9%
$1,983,900
Alternative Uses
Best Use
Apartment 5plus
$2.55M
$2.23M – $2.98M
NOI $178,551 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.62M
$3.17M – $4.22M
NOI $253,228 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,563
Businesses Nearby
Explore this area
Business Placement
Demographics for 01902, MA
50,725
Population
19,655
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
75%
High-School Grad
2.4 sq mi
ZIP Area
21,135
Density / Sq Mi
$66,755
Median Household Income
$39,506
Median Earnings
$1,571
Median Rent
$456,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Lynn, MA
Properties on Market for Apartment buildings in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story configuration includes one-bedroom, one-bath residences, with four units renovated.
Where is this apartment building located?
The property is located at 71 Harwood St Lynn, MA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 12 units, each with 1 bedroom and 1 bathroom; 10,224 square feet across three stories; Four units renovated
