Three-Family Property with Separate
8 Varnum Street, Lynn, MA 01905
For Sale
$989,900
Well-maintained triplex with separate utilities, vinyl siding, and rubber roofing, plus rear decks and off-street parking.
Property Size2,640 SF
Price / SF$374.96
Days on Market145
Property Features for 8 Varnum Street
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Clements Realty Group
Listed By:
Eugene L. Clements
(978) 998-9600
Source:
Eganrealtygroup
Added: Jun 18
Changed: Nov 7
Last Checked: Oct 28 at 8:48AM
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 well-maintained three-family property includes separate utilities throughout, with three individual gas heating systems. The building’s exterior improvements include vinyl siding and a durable rubber roof. Each unit benefits from a large rear deck, providing meaningful outdoor space, and the property also offers off-street parking.
The property is located at 8 Varnum Street in Lynn, MA 01905.
As a triplex, the building provides multiple residential units under one ownership, supported by the practical separation of utilities and heating systems.
The property is located at 8 Varnum Street in Lynn, MA 01905.
As a triplex, the building provides multiple residential units under one ownership, supported by the practical separation of utilities and heating systems.
Key Highlights
- Three‑family property built in 1920
- Separate utilities throughout, including three individual gas heating systems
- Low‑maintenance exterior with vinyl siding and a durable rubber roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,060
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,061,200
$1.1M
Cap Rate 7%
$758,000
$758.0K
Cap Rate 9%
$589,556
$589.6K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$80.8K $30.60/SF
− Vacancy
−$5.0K −$1.89/SF
EGI
$75.8K $28.71/SF
− OpEx
−$22.7K −$8.61/SF
NOI
$53.1K $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%
$1,061,200
Cap Rate 7%
$758,000
Cap Rate 9%
$589,556
Alternative Uses
Best Use
Multifamily LT 5
$758.0K
$663.3K – $884.3K
NOI $53,060 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$658.6K
$576.3K – $768.4K
NOI $46,105 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$934.1K
$817.4K – $1.09M
NOI $65,388 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
789
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
$443,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Lynn, MA
Properties on Market for Triplexes in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained triplex with separate utilities, vinyl siding, and rubber roofing, plus rear decks and off-street parking.
Where is this triplex located?
The property is located at 8 Varnum Street Lynn, MA.
What is the asking price?
The asking price for this property is $989,900.
What are key features of this property?
This property features: Three‑family property built in 1920; Separate utilities throughout, including three individual gas heating systems; Low‑maintenance exterior with vinyl siding and a durable rubber roof
