Triplex with Bonus
New
For Sale
$999,000
9 S Elm St, Lynn, MA 01905
Three apartments feature flexible layouts, private decks, updated electric service, and off-street parking.
Property Size3,613 SF
Price / SF$276.50
Days on Market5
Property Features for 9 S Elm St
General Information
Standard status
Active
Size
3,613 SF
Total Parking Spaces
6
Property subtype
3 Family - 3 Units Up/Down
Amenities
private decks
hardwood floors
updated electric service
basement storage
detached accessory building with plumbing and electricity
Building Details
Year Built
1900
Buildings
2
Tenancy
Multi
Listing Agency:
Lock and Key Realty
(413) 717-0635
Listed By:
Jordan Healy
(413) 717-0635
Source:
Lockandkeyre
Added: Jul 28
Changed: Jul 31
Last Checked: Aug 1 at 5:37AM
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 Lock and Key Realty
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 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 | $110.6k | $30.60 |
| − Vacancy | −$6.8k | −$1.89 |
| EGI | $103.7k | $28.71 |
| − OpEx | −$31.1k | −$8.61 |
| NOI | $72.6k | $20.10 |
3,613 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
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.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,133
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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
