MA
Essex
Lynn
01905
9-11 Dungeon Ave
9-11 Dungeon Ave, Lynn, MA 01905
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Listing Type
Multi Family
Listing Status
Active
24
$579,900

Home Details for 9-11 Dungeon Ave

Price
$579,900
Type
Residential Income
Bedrooms
4
Total Bathrooms
2
Full Bathrooms
2
Square feet
1368
Year built
1970
Lot size acres
0.28
County
Essex
Total rooms
10
Days on site
91
MLS Listing#
73536785
Property Description

Excellent opportunity for an investor looking for immediate rental income with value-add potential. Currently generating $4,700/month ($56,400 annually) in rental income, with an approximately 8%+ projected cap rate based on current income and operating expenses. Tenants pay all utilities except water/sewer. All tenants are month-to-month, providing a new owner flexibility with the existing tenancies.Four off-street parking spaces. Both units have their own washer and dryer. The property is currently occupied, livable, and income-generating, but it does need updating. The interior has received fresh paint in several areas, while the exterior would benefit from updated vinyl siding/wrapping. This creates a great value-add opportunity for an investor to improve the property over time and further increase rents. The property has consistently generated extremely strong rental demand and would be perfect for an owner-occupant.

Property Features
  • Heating Information
    • Electric
    • Zoned
  • Parking
    • Paved
    • Off Street
  • Cooling Information
    • Window Unit(s)
  • Water Features
    • Public
Listing Courtesy: The Aland Realty Group LLC - 603-501-0463
Presented by: Ethan Forrest
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Median Listing Price
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Market statistics compiled from data from Massachusetts Association of REALTORS.
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