Three-Family Property with Separate
8 Varnum Street Lynn, MA 01905
8 Varnum Street, Lynn, MA, 01905
$989,900
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 Market39
Property Features for 8 Varnum Street
General Information
- Standard status
- Active
- Size
- 2,640 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Clements Realty Group
Listed by
Eugene L. Clements
(617) 731-4644
Source
Hammondre
Added: Jun 14 Updated: Jul 21 at 7:21AM Checked: Jul 21 at 7:21AM
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
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
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 | $80.8k | $30.60 |
| − Vacancy | −$5.0k | −$1.89 |
| EGI | $75.8k | $28.71 |
| − OpEx | −$22.7k | −$8.61 |
| NOI | $53.1k | $20.10 |
2,640 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
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
