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$3,400,000
Est. payment /mo
28 Beds
12 Baths
11,519 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Active
Purchase Type For Sale
Square Footage 11,519 sqft
Price per Sqft $295
MLS Listing ID 73457565
Bedrooms 28
Full Baths 12
Year Built 1920
Annual Tax Amount $30,484
Tax Year 2025
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
Lynch Street Apartments is a 11,519 +/- square foot 12-unit brick apartment building with nine off-street parking spaces situated on a 6,460 +/- square feet corner lot. The unit makeup is four (4) 3-bedroom apartments and eight (8) 2-bedroom apartments, each unit has one (1) bathroom and is individually metered for electricity with heat and hot water by natural gas supplied by the landlord. All twelve units are de-leaded. Hookups are in place for coin-operated laundry facilities. All occupants are TAW which offers an extraordinary Value Add Opportunity simply by bringing rents to market value with minimal capital improvements needed. 10-14 Lynch Street is located in Salem Massachusetts within walking distance to both Salem State University and the historic downtown amenities such as tourist attractions, restaurants, breweries and the waterfront activities. One tenant is being evicted, all rents are below market value, buyer should really be experienced with I/O loans, cash or 1031.
Location
State MA
County Essex
Zoning R3
Direction Downtown next to Shetland Park
Rooms
Basement Full, Interior Entry
Exterior
Roof Type Rubber
Total Parking Spaces 9
Garage No
Building
Lot Description Corner Lot
Story 3
Foundation Other
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by The Mega Group
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