Three-Family Property with Separate
For Sale
$989,900
8 Varnum Street, Lynn, MA 01905
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 Market116
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
(781) 595-9600
Source:
Residentialproperties
Added: Jun 14
Changed: Oct 6
Last Checked: Sep 26 at 8:57AM
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
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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
789
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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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
