Triplex with Bonus
9 S Elm St, Lynn, MA 01905
For Sale
$999,000
Three apartments feature flexible layouts, private decks, updated electric service, and off-street parking.
Property Size3,613 SF
Days on Market101
Property Features for 9 S Elm St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
private decks
hardwood floors
updated electric service
basement storage
detached accessory building with plumbing and electricity
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Dalbon & Company
(978) 882-4623
Source:
Threehillsres
Added: Jul 30
Changed: Nov 7
Last Checked: Nov 6 at 8:26AM
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
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Investment Insights
Based on property information with market context.
This well-maintained triplex contains three apartments, each with 3 bedrooms, a bonus room, separate living and dining rooms, private decks, and hardwood floors. Units 2 and 3 each include two full baths, while updated electric service supports the property. All three units are described as clean and well cared for. The property includes six off-street parking spaces, basement storage, and a detached accessory building with plumbing and electricity. The accessory building provides flexible space for storage, a workshop, studio, or hobby use.
Located on a quiet dead-end street near shopping, public transportation, and major commuter routes, the property also has lead compliance certificates available for Units 1 and 2. Long-term tenants have a history of on-time rent payments and have cooperated with ownership to facilitate buyer access.
Located on a quiet dead-end street near shopping, public transportation, and major commuter routes, the property also has lead compliance certificates available for Units 1 and 2. Long-term tenants have a history of on-time rent payments and have cooperated with ownership to facilitate buyer access.
Key Highlights
- Three apartments, each with 3 bedrooms and a bonus room
- Units 2 and 3 each include two full baths
- Six off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,615
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,452,300
$1.5M
Cap Rate 7%
$1,037,357
$1.0M
Cap Rate 9%
$806,833
$806.8K
Market Conditions
NOI Build-Up for 3,613 SF
Gross rent
$110.6K $30.60/SF
− Vacancy
−$6.8K −$1.89/SF
EGI
$103.7K $28.71/SF
− OpEx
−$31.1K −$8.61/SF
NOI
$72.6K $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%
$1,452,300
Cap Rate 7%
$1,037,357
Cap Rate 9%
$806,833
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.7K – $1.21M
NOI $72,615 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$901.4K
$788.7K – $1.05M
NOI $63,097 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,487 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,133
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
$443,200
Median Home Value
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Market
Average Price Trend$/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 apartments feature flexible layouts, private decks, updated electric service, and off-street parking.
Where is this triplex located?
The property is located at 9 S Elm St 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 apartments, each with 3 bedrooms and a bonus room; Units 2 and 3 each include two full baths; Six off‑street parking spaces
