Turnkey Residential Income
90 Essex St Lynn, MA 01902
New
90 Essex St, Lynn, MA, 01902
$1,850,000
For Sale
$1,850,000
Extensively renovated income property with modern systems and three well-appointed residences featuring in-unit laundry.
Property Size6,108 SF
Price / SF$302.88
Days on Market7
Property Features for 90 Essex St
General Information
- Standard status
- Active
- Size
- 6,108 SF
- Property subtype
- 4 Family - 4 Units Up/Down
Building Details
- Year Built
- 1910
Listing agency
Carlton's Wharf & Co.
(617) 331-7473
Listed by
Jorge Rodriguez · License #449587741
(617) 331-7473
Source
Lockandkeyre
Added: Jul 15 Updated: Jul 20 at 5:07AM Checked: Jul 21 at 3:21AM
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 Carlton's Wharf & Co.
Investment Insights
Based on property information with market context.
This extensively reimagined, turnkey residential income property has undergone a comprehensive renovation, including a new roof, electrical system, plumbing, heating and cooling systems, windows, insulation, siding, and an upgraded 440-volt electrical service. The residences feature bright, open-concept layouts with hardwood flooring, quartz countertops, stainless steel appliances, and in-unit laundry for day-to-day convenience.
The property includes two 4-bedroom, 2-bath residences and one 3-bedroom, 2-bath unit, giving it a flexible mix of larger and mid-sized floorplans. It is positioned about one mile from the beach and moments from the Swampscott line, with nearby access to shopping, dining, transportation, and local amenities.
Renovation scope is designed to deliver lasting value, with updates throughout the building’s core systems and exterior components. All details reflect a fully executed upgrade approach suitable for an investor seeking a stabilized, ready-to-own asset.
The property includes two 4-bedroom, 2-bath residences and one 3-bedroom, 2-bath unit, giving it a flexible mix of larger and mid-sized floorplans. It is positioned about one mile from the beach and moments from the Swampscott line, with nearby access to shopping, dining, transportation, and local amenities.
Renovation scope is designed to deliver lasting value, with updates throughout the building’s core systems and exterior components. All details reflect a fully executed upgrade approach suitable for an investor seeking a stabilized, ready-to-own asset.
Key Highlights
- 1910‑built income property extensively renovated with new roof, electrical, plumbing, heating & cooling, windows, insulation, and siding
- Upgraded 440‑volt electrical service plus modernized systems throughout
- Mixed residential configuration: two 4‑bedroom/2‑bath residences and one 3‑bedroom/2‑bath unit
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 | $186.9k | $30.60 |
| − Vacancy | −$11.5k | −$1.89 |
| EGI | $175.4k | $28.71 |
| − OpEx | −$52.6k | −$8.61 |
| NOI | $122.8k | $20.10 |
6,108 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.05M
NOI $122,761 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$1.52M
$1.33M – $1.78M
NOI $106,670 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,283 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Extensively renovated income property with modern systems and three well-appointed residences featuring in-unit laundry.
Where is this quadplex located?
The property is located at 90 Essex St Lynn, MA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 1910‑built income property extensively renovated with new roof, electrical, plumbing, heating & cooling, windows, insulation, and siding; Upgraded 440‑volt electrical service plus modernized systems throughout; Mixed residential configuration: two 4‑bedroom/2‑bath residences and one 3‑bedroom/2‑bath unit
