374-378 Washington St Active Save Request In-Person Tour Request Virtual Tour
Lynn,MA 01901
Key Details
Property Type Multi-Family
Sub Type 5+ Family - Rooming House
Listing Status Active
Purchase Type For Sale
Square Footage 10,585 sqft
Price per Sqft $292
MLS Listing ID 73430774
Bedrooms 46
Full Baths 4
Half Baths 4
Year Built 1912
Annual Tax Amount $24,415
Tax Year 2025
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-Type 5+ Family - Rooming House
Property Description
376 Washington Street offers a rare chance to acquire a stabilized multifamily asset in the heart of Lynn. The property includes 46 furnished SRO units with shared kitchens, coin-op laundry, four full and four half bathrooms. Supported by newer building systems, it delivers operational efficiency, reduced near-term capital needs, and a strong 10% cap rate with consistent occupancy and reliable cash flow. Professionally managed with staffing and compliance in place, it ensures a seamless transition for new ownership. Located in a federally designated Opportunity Zone, it provides potential tax benefits alongside strong performance. Monthly rent is approximately $46,516, and the seller will consider a buyer's property in trade for a 1031 exchange.
Location
State MA
County Essex
Zoning CBD
Direction Parallel to Willow and Central, perpendicular to Liberty and Oxford
Exterior
Roof Type Rubber
Garage No
Building
Story 4
Foundation Stone
Sewer Public Sewer
Water Public
Others
Senior Community false