Well-Maintained Three-Unit Residential
For Sale
$965,000
73 Woodman Street, Lynn, MA 01905
Three residential units each offer three-bedroom layouts with hardwood flooring and a lead certificate.
Property Size3,594 SF
Price / SF$268.50
Days on Market123
Property Features for 73 Woodman Street
General Information
Standard status
Active
Size
3,594 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
R4
Occupancy
100%
Net Operating Income
$45,600
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,811
Amenities
Park
Zoned
Gas Water Heater
Off Street
Building Details
Building Size
3,594 SF
Year Built
1900
Stories
3
Listing Agency:
McMahon Natoli Realty
Listed By:
Bill McMahon · License #9059793
(617) 224-2527
Source:
Evrealestate
Added: Jun 25
Changed: Oct 25
Last Checked: Oct 24 at 5:43PM
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 McMahon Natoli Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-maintained three-family property features three separate residential units. Each unit includes three bedrooms and one full bathroom, with hardwood flooring and a functional layout. The property also benefits from a Lead Certificate for each unit.
Major exterior and system updates include a roof and siding, along with some electrical upgrades and one newer boiler. Parking is supported by a two-car garage and off-street parking.
The offering is structured as a 3-unit income property with all three units accounted for, and the current rents are described as below market.
Major exterior and system updates include a roof and siding, along with some electrical upgrades and one newer boiler. Parking is supported by a two-car garage and off-street parking.
The offering is structured as a 3-unit income property with all three units accounted for, and the current rents are described as below market.
Key Highlights
- Well‑maintained 3‑family home (built 1900) with three residential units.
- Each unit offers a 3‑bedroom layout with 1 full bath and hardwood flooring.
- Each unit has a Lead Certificate (3 TAW).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,234
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,444,680
$1.4M
Cap Rate 7%
$1,031,914
$1.0M
Cap Rate 9%
$802,600
$802.6K
Market Conditions
NOI Build-Up for 3,594 SF
Gross rent
$110.0K $30.60/SF
− Vacancy
−$6.8K −$1.89/SF
EGI
$103.2K $28.71/SF
− OpEx
−$31.0K −$8.61/SF
NOI
$72.2K $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%
$1,444,680
Cap Rate 7%
$1,031,914
Cap Rate 9%
$802,600
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$902.9K – $1.20M
NOI $72,234 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$896.6K
$784.6K – $1.05M
NOI $62,765 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,016 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
878
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units each offer three-bedroom layouts with hardwood flooring and a lead certificate.
Where is this triplex located?
The property is located at 73 Woodman Street Lynn, MA.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: Well‑maintained 3‑family home (built 1900) with three residential units.; Each unit offers a 3‑bedroom layout with 1 full bath and hardwood flooring.; Each unit has a Lead Certificate (3 TAW).
