386 Summer St Lynn, MA ^$ 5,200,000

386 Summer St

^$ 5,200,000

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386 Summer St

Lynn, MA, 01905

^$ 5,200,000

Studio Baths20.0 Sq 3,600

Monthly Estimate*

^$ 36,324

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Studio

Commercial Property for sale in Lynn, MA

for $5,200,000 with 20 full baths. This 3,600 square foot building was built in 1985 on a lot size of 0.39.

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. Please call for appt.

Commercial Active

Price

^$ 5,200,000

Bedrooms

Studio

Full Bath

Property Type

Commercial

Taxes

^$ 45,000

Style

5+ Residential

Lot Size

0.39

Year Built

1985

Town/City

Lynn

County/Region

Essex

MLS | Web ID

73161244

List By

Louise Touchette Team

Listing Agent

Coldwell Banker Realty - Lynnfield

Broker

Affordability Calculator

$40,074

Per Month

Monthly Principal & Interest: $36,324
Monthly Property Taxes: $3,750
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends

Commerical listings in Lynn, MA

Average List Price ^$1,344,822

Percent of Sale Price 74%

About Lynn, MA

92,878 Population

4% Since 2002

^$52,444 Median Income

37.53 Median Age

32% Households with Children

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Trends Information provided by ATTOM Data Solutions.

Neighborhood & Schools

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Pricing History

Date	Price	Price Change	Description
10/10/2023	$5,200,000	-7.14%	Price Down
9/22/2023	$5,600,000		Listed Price

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386 Summer St, Lynn, MA, 01905 is a Commercial Property for sale at $5,200,000 with 3,600 sqft and a lot size of 0.39. 386 Summer St is a studio with 20.0 baths and was built in 1985. The property's zip code is 01905 which is in Lynn, MA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Data is updated as of 4/29/2024.

The real estate information and related content displayed on this site is provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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386 Summer St

Commercial Property for sale in Lynn, MA

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