Well-Maintained Three-Unit Residential
73 Woodman Street Lynn, MA 01905
73 Woodman Street, Lynn, MA, 01905
$999,000
For Sale
$999,000
Three residential units each offer three-bedroom layouts with hardwood flooring and a lead certificate.
Property Size3,594 SF
Price / SF$277.96
Days on Market45
Property Features for 73 Woodman Street
General Information
- Standard status
- Active
- Size
- 3,594 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
McMahon Natoli Realty
Listed by
Bill McMahon
(603) 548-5315
Source
Burkelordrealestate
Added: Jun 8 Updated: Jul 21 at 4:58AM Checked: Jul 22 at 8:09AM
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
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).
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $110.0k | $30.60 |
| − Vacancy | −$6.8k | −$1.89 |
| EGI | $103.2k | $28.71 |
| − OpEx | −$31.0k | −$8.61 |
| NOI | $72.2k | $20.10 |
3,594 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$902.9K – $1.20M
NOI $72,234 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$896.6K
$784.6K – $1.05M
NOI $62,765 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,016 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
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 $999,000.
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).
