386 Summer St Lynn, MA

$5,200,000
Square Feet 3,600
Acres 0.39
Photo of 386 Summer St Lynn MA 01905




Description

This is your opportunity to own 20 approved condos, With 2 Bedrooms 1 Bath in every unit . Currently utilized as rental apartments. Several units have been updated, featuring modern kitchens, granite or Formica countertops, an array of flooring including hardwood, laminate, tile and carpet. Additionally, the convenience of in-unit laundry hook-ups, 20 parking spaces and so much more. With a substantial monthly rental roll of $30,000 and the potential for future rent adjustments, this offering presents an ideal opportunity for savvy investors seeking a high-quality asset poised for growth. Perfectly situated with easy access to the T Station and several bus lines, and in close proximity to many shops and malls, this property seamlessly combines convenience and quality, making it a compelling investment prospect.


Listed by Coldwell Banker Realty - Lynnfield, Louise Touchette Team

Details

MLS 73161244
Status Active
Price $5,200,000
DOM 452 days
Type Commercial
Square Feet 3,600 sqft
Lot Size 0.39 acres
Year Built 1985

Lot & Building Features

Tax Year 2023
Taxes Paid $45,000
Roof Shingle

Map

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Financing

$
20%
1%
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI

Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This calculator only provides an estimate.


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