Property Description

We are pleased to present a rare opportunity to acquire 145 Lewis Street, a 25-unit multifamily asset located in the highly desirable Diamond District of Lynn, MA. Held by the same ownership for more than 25 years and fully rebuilt in 2015. The property offers investors a 6.8% CAP rate on current income on this 10-year-young asset with strong in-place rents and ability to improve for future growth and no capital improvements needed to achieve returns. The building consists of twenty-five (25) thoughtfully designed floor plans, including eighteen (18) one-bedroom units, six (6) two-bedroom units, and one (1) three-bedroom/two-bathroom unit. This desirable unit-mix along with amenities such as laundry facilities and on-site storage create long term revenue stream and tenant retention.