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229 Lewis St

Lynn, MA 01902
  • $3,900,000
  • STATUS: Active
  • MLS #: 73326316
UPDATED: 12 min ago
$3,900,000
  • 15
    BEDS
  • 0.13
    ACRES
  • 10
    BATHS
  • 0
    1/2 BATHS
  • 12,500
    SQFT
  • $312
    $/SQFT
Type:
Multi-Family
Built:
2010
County:
Essex

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Listing courtesy of Rebecca Huang of East West Real Estate, LLC.

Description

~~~~~7% Return Ratio ~~~ 10 unit mixed use brick building built from ground up in 2010. Newer roof, newer plumbing, newer electrical, central AC all commercial grade. Hard wired smoke and sprinkler system as well. Property consists of (5) commercial retail units on first level. (Five) 3 bed 1 bath apartments on 2nd and 3rd floors in excellent condition. Washer and dryer hookups in all apartments. Tenants pay all utilities. All tenants have leases. Commercial tenants have rate increases built in yearly. Absolutely no deferred maintenance, nothing to do but collect your rents and watch as they increase. Laundry mat's business asset comes with the sale for free.

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The property listing data and information 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 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 set forth herein. Data last updated 2025-04-18T15:04:56.303.
www.maloneypropertiesrealestate.com/homes/159460132
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229 Lewis St Lynn, MA 01902

  • Price: $3,900,000
  • Status: Active
  • On Site: Days
  • Updated: 12 min ago
  • MLS #: 73326316
15
Beds
10
Baths
0
½ Baths
0.13
Acres
12,500
SQFT
$312
$/SQFT
2010
Built
County:
Essex
Property Description
~~~~~7% Return Ratio ~~~ 10 unit mixed use brick building built from ground up in 2010. Newer roof, newer plumbing, newer electrical, central AC all commercial grade. Hard wired smoke and sprinkler system as well. Property consists of (5) commercial retail units on first level. (Five) 3 bed 1 bath apartments on 2nd and 3rd floors in excellent condition. Washer and dryer hookups in all apartments. Tenants pay all utilities. All tenants have leases. Commercial tenants have rate increases built in yearly. Absolutely no deferred maintenance, nothing to do but collect your rents and watch as they increase. Laundry mat's business asset comes with the sale for free.
Exterior Features

Covered Spaces 0 Garage YN No Levels 10 Lot Features Corner Lot Open Parking YN Yes Parking Features Paved Drive Parking Total 2 Spa YN No Waterfront YN No

Interior Features

Building Area Total 12500 Fireplace YN No Fireplaces Total 0 Foundation Details Concrete Perimeter Lead Paint None Rooms Total 25

Property Features

Community Features Shopping Disclosures Seller is the owner of Laundromat. Business and equipment convey with the sale. After all expenses paidroughly 5k $ profit per month. This is expressed in total NOI. Seller's agent make no representation. Buyer/ Buyer agent to do their own due diligence for all accurate info prior to contract. Gross Income 298080 Home Warranty YN No Insurance Expense 8500 Net Operating Income 127940 Operating Expense 8860 Property Sub Type 5-9 Family Senior Community YN No Sewer Public Sewer Tax Annual Amount 17946.27 Tax Year 2024 Total Actual Rent 24840 Water Sewer Expense 360 Water Source Public Year Built Details ActualApproximate Zoning BD

Listing information © 2025 MLS Property Information Network. All information is deemed reliable but should be independently verified.
Listing provided courtesy of Rebecca Huang of East West Real Estate, LLC: 617-479-6666.


The property listing data and information 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 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 set forth herein. Data last updated 2025-04-18T15:04:56.303.
 
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Listing courtesy of Rebecca Huang of East West Real Estate, LLC.