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Image 1 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Image 2 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Image 3 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Image 4 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Image 5 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Image 6 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Image 7 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Image 8 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Image 9 - 526 Western Avenue, Lynn, MA 01904, USA - House for sale
Home For Sale In Lynn, Massachusetts
526 Western Avenue, Lynn, MA 01904, USA

Home For Sale In Lynn, Massachusetts

house for sale
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Listed: 01/09/24

526 Western Avenue, Lynn, MA 01904, USA

43 Bed:
16 Bath:
17,688 Sq Ft Living Area:
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Price
$ 4M

About This House

Listed at a 6.86% Cap Rate on current income, the asset is a four-story brick building contains sixteen (16) units comprised of eleven (11), 3-Bedroom/1-Bathroom units and five (5), 2-Bedroom/1-Bathroom units with17, 688square feet of living area on a 0.13-acre corner parcel of land. The Property is well-located at the intersection of Western Avenue and Franklin Street and is 0.1-miles from Stop and Shop. 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, and North Shore Community College. 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 option exists to potentially assume the existing debt at 4.04% interest rate.

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Lynn Housing & Living

Household Income

Median household income: $53,513
Number of households: 32,981
The average household income in Lynn, MA grew from $50,774 to $53,513 in the past year. This data is an estimate based upon 32,981 households in Lynn, MA.
The chart below presents how household income is distributed in Lynn, MA in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Lynn, MA compared to median property taxes around the country. The prevalent amount of property taxes in Lynn, MA equals $3k+ , which is more than the national average.