Lynn Real Estate, 9-11 Dungeon Ave: LRG Boston, #73536785

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9-11 Dungeon Ave, Lynn, MA

Lynn Multi-Family Get directions

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Unit Information

An excellent opportunity for an investor seeking immediate rental income with value-add potential. Make your own updates with a $ 20,000 credit at closing! $20,000 credit at closing toward rate buydowns, prepaids, and closing costs! Currently generating $4,700/month ($56,400 annually) in rental income, with an approximately 8%+ projected cap rate based on current income and operating expenses. Tenants pay all utilities except water/sewer. All tenants are month-to-month, providing a new owner flexibility with the existing tenancies. Four off-street parking spaces. Both units have their own washer and dryer. The property is currently occupied, livable, and income-generating, but it does need updating. The interior has received fresh paint in several areas, while the exterior would benefit from updated vinyl siding/wrapping. This creates a great value-add opportunity for an investor to improve the property over time and further increase rents. The property has consistently generated extremely strong rental demand and would be perfect for an owner-occupant.

Additional Details: Status: Active; Type: Multi-Family, Multi Family; Zip Code: 01905; Levels: 2
Parking: Garage Capacity: 3; Parking: Paved,Off Street; Parking Spaces: 3

Rooms and Dimensions: Total Units: 2; Total Floors: 2; Total Rooms: 10

$579,900

Listing ID: 73536785
Bedrooms: 4
Full Baths: 2
Living Area: 1,368 sqft 127 m² Convert
Lot Size: 12,018 sqft 1,117 m² Convert
Acres: 0.28
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Luxury Residential Group

(617) 233-5800

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