Triplex Package with Off-Street
For Sale
$1,600,000
74-76 Myrtle Street, Lynn, MA 01905
R2-zoned multifamily package with five two-bedroom units, enclosed porches, and vacant delivery.
Property Size4,439 SF
Price / SF$360.44
Days on Market158
Property Features for 74-76 Myrtle Street
General Information
Standard status
Active
Size
4,439 SF
Total Parking Spaces
5
Property subtype
Multi-family / 5-9 Family
Zoning
R2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,001
Amenities
enclosed porches
off-street parking
stove and refrigerator
No
Tile, Hardwood
Range, Refrigerator
5.0
Full
Ceiling Fan(s), Living Room, Kitchen, Dining Room
5
5.00
Fenced/Enclosed, Fenced
Frame
Shingle
Level
Fenced Yard, Porch
Porch
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Keller Williams Realty Evolution
(781) 395-5600
Listed By:
Karshis & Co.
(781) 395-5600
Source:
Compass
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 1:10PM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This R2-zoned multifamily offering combines a three-family property with an adjacent two-family property at 74-76 Myrtle Street. The package contains five units, each arranged with two bedrooms, one full bath, living, kitchen, and dining areas. Hardwood and tile finishes, stoves, refrigerators, ceiling fans, and enclosed porches are included across the properties. The buildings date to 1900 and provide a combined property size of 4,439 square feet.
The properties are situated on adjacent lots in Lynn, Massachusetts, near shops, restaurants, public transportation, and everyday amenities. Exterior features include fenced areas, porches, level lots, and off-street parking. Delivery is planned in vacant condition, allowing the next owner to determine occupancy or leasing plans.
The properties are situated on adjacent lots in Lynn, Massachusetts, near shops, restaurants, public transportation, and everyday amenities. Exterior features include fenced areas, porches, level lots, and off-street parking. Delivery is planned in vacant condition, allowing the next owner to determine occupancy or leasing plans.
Key Highlights
- Package includes a three‑family property and adjacent two‑family property
- Five total units, each with 2 bedrooms and 1 full bath
- 4,439 square feet across adjacent lots at 74‑76 Myrtle Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,217
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,784,340
$1.8M
Cap Rate 7%
$1,274,529
$1.3M
Cap Rate 9%
$991,300
$991.3K
Market Conditions
NOI Build-Up for 4,439 SF
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.
Gross rent
$135.8K $30.60/SF
− Vacancy
−$8.4K −$1.89/SF
EGI
$127.5K $28.71/SF
− OpEx
−$38.2K −$8.61/SF
NOI
$89.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,784,340
Cap Rate 7%
$1,274,529
Cap Rate 9%
$991,300
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.12M – $1.49M
NOI $89,217 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$1.11M
$969.0K – $1.29M
NOI $77,522 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,945 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
595
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - R2-zoned multifamily package with five two-bedroom units, enclosed porches, and vacant delivery.
Where is this triplex located?
The property is located at 74-76 Myrtle Street Lynn, MA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Package includes a three‑family property and adjacent two‑family property; Five total units, each with 2 bedrooms and 1 full bath; 4,439 square feet across adjacent lots at 74‑76 Myrtle Street
