$3,525,000
$3,800,000
7.2%For more information regarding the value of a property, please contact us for a free consultation.
31 Franklin St Lynn, MA 01902
18 Beds
18 Baths
11,316 SqFt
Key Details
Sold Price $3,525,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Side by Side
Listing Status Sold
Purchase Type For Sale
Square Footage 11,316 sqft
Price per Sqft $311
MLS Listing ID 73247670
Sold Date 08/12/24
Bedrooms 18
Full Baths 18
Year Built 1970
Annual Tax Amount $34,690
Tax Year 24
Lot Size 0.270 Acres
Acres 0.27
Property Description
31 Franklin Street contains eighteen 1-Bedroom/1-Bathroom units. The well-maintained Property features an on-site laundry facility, storage units and eighteen on-site parking spaces. In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply constrained residential market. The Property is well-located along Franklin Street and is 0.1-miles from Market Street and 0.3-miles from Western Avenue. The Property is situated along the edge of Downtown Lynn and is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities including Central Square, BayRidge Hospital, North Shore Community College, and Lynn Beach.
Location
State MA
County Essex
Zoning BD3
Direction Please use GPS
Rooms
Basement Unfinished
Interior
Appliance Washer, Dryer
Exterior
Community Features Public Transportation, Shopping, Pool, Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Bike Path, Conservation Area, Highway Access, House of Worship, Marina, Private School, Public School, T-Station, University
Waterfront false
Roof Type Rubber
Total Parking Spaces 18
Garage No
Building
Lot Description Other
Story 3
Foundation Block
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with Stephen Girolamo • Horvath & Tremblay