Updated Triplex with
89 Eutaw Ave, Lynn, MA 01902
For Sale
$999,000
Three matching apartments offer separate utilities, recent interior updates, and a fenced common yard.
Property Size2,736 SF
Days on Market60
Property Features for 89 Eutaw Ave
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Parking per Unit
Additional Details
Utilities to Site
Taxes and HOA fees
Annual Taxes
Amenities
fenced yard
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listed By:
Dan Bernal · License MA #449539464
(617) 275-3291
Source:
Elliman
Added: Sep 15
Changed: Nov 8
Last Checked: Nov 12 at 9:28AM
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 Dan Bernal
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Investment Insights
Based on property information with market context.
Built in 1890, this triplex contains three functionally similar apartments, each with two bedrooms, one bathroom, and one parking space. Interior improvements completed three years ago include granite counters. The building has vinyl siding that is less than 10 years old and a rubber roof that is 7 years old with regular maintenance. Each apartment has separate utilities and its own gas-fired boiler. The property is fully deleaded with certificates.
A fenced common yard provides shared outdoor space suitable for pets, grilling, or gatherings. The building is near grocery stores and restaurants, with access to Western Ave and major routes in and out of Lynn. Walk Score is 88, Bike Score is 52, and Transit Score is 44. The property is fully occupied, with limited group showings.
A fenced common yard provides shared outdoor space suitable for pets, grilling, or gatherings. The building is near grocery stores and restaurants, with access to Western Ave and major routes in and out of Lynn. Walk Score is 88, Bike Score is 52, and Transit Score is 44. The property is fully occupied, with limited group showings.
Key Highlights
- Three 2‑bedroom, 1‑bathroom units with matching layouts
- One parking space assigned to each unit
- Separate utilities and gas‑fired boiler for every apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,989
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,099,780
$1.1M
Cap Rate 7%
$785,557
$785.6K
Cap Rate 9%
$610,989
$611.0K
Market Conditions
NOI Build-Up for 2,736 SF
Gross rent
$83.7K $30.60/SF
− Vacancy
−$5.2K −$1.89/SF
EGI
$78.6K $28.71/SF
− OpEx
−$23.6K −$8.61/SF
NOI
$55.0K $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%
$1,099,780
Cap Rate 7%
$785,557
Cap Rate 9%
$610,989
Alternative Uses
Best Use
Multifamily LT 5
$785.6K
$687.4K – $916.5K
NOI $54,989 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$682.6K
$597.3K – $796.4K
NOI $47,781 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$968.1K
$847.1K – $1.13M
NOI $67,765 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
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Business Placement
Demographics for 01902, MA
50,725
Population
19,655
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
75%
High-School Grad
2.4 sq mi
ZIP Area
21,135
Density / Sq Mi
$66,755
Median Household Income
$39,506
Median Earnings
$1,571
Median Rent
$456,000
Median Home Value
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Market
Average Price Trend$/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 - Three matching apartments offer separate utilities, recent interior updates, and a fenced common yard.
Where is this triplex located?
The property is located at 89 Eutaw Ave 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: Three 2‑bedroom, 1‑bathroom units with matching layouts; One parking space assigned to each unit; Separate utilities and gas‑fired boiler for every apartment
