505-509 Chatham, Lynn MA 01902 – 22 bed 12 bath For Sale – 73319791
Overview
- Updated On:
- February 25, 2025
-
- 73319791
- 22 Bedrooms
- 12 Bathrooms
- 0 Garage Spaces
- 12 Non-Garage Parking Spaces
- 1910
Description
505 Chatham Street, Lynn, MA is a solid investment opportunity featuring a 12-unit brick building on a large lot with 12 parking spaces. The apartments consist mostly of spacious 2-bedroom units, with a couple of 1-bedroom units, all fully deleaded. Many windows have been recently replaced, and the property includes coin-operated laundry in the basement, adding extra income potential. This well-maintained property offers strong rental income and excellent cash flow, making it a standout in Lynn’s rental market. The office phone number 617-564-1381.
Property Listing Details
Overview
| MLS Status | Active |
|---|---|
| Price | $ 3,200,000 |
| Living Area | 13,810.00 ft2 |
| Bedrooms | 22 |
| Total Rooms | 99 |
|---|---|
| Listing MLS ID | 73319791 |
| Days on Market | 68 |
| Bathrooms | 12 |
Unit Information
| Bedrooms | 22 |
|---|---|
| Full Bathrooms | 12 |
| Half Bathrooms | 0 |
| Cooling | |
| Heating | |
| Uncovered Parking | 12 |
| Garage Parking | 0 |
| Water View | |
| Unit Level |
| Common Walls | |
|---|---|
| Laundry Features | |
| Lead Paint | Yes |
| Outdoor Space Available | |
| Living Area Includes Basement | |
| Patio And Porch Features | |
| Parking Features | |
| Waterview Features | |
| Flooring |
Building Information
| Building Name | |
|---|---|
| Units in Building | 12 |
| Pets Allowed | |
| Association Amenities | |
| Pool Features | |
| Waterfront Features | |
| Association Fee Includes | |
| Construction Materials |
| Year Built | 1910 |
|---|---|
| Security Features | |
| Sewer | Public Sewer |
| Spa Features | |
| Structure Type | |
| Water Source | Public |
| Basement | |
| Roof |
Additional Details
| Community Features | |
|---|---|
| Disclosures | |
| Last Updated | 2025-02-25T02:54:00.000Z |
| Building Area Source | Owner |
| MLS PIN Page | |
| Parcel Number | 1997894 |
| Original List Price | 3300000 |
| Listing Office | greenville real estate group, inc. |
| Tax Annual Amount | 30185.4 |
|---|---|
| Tax Assessed Value | 279670 |
| Tax Book Number | 999 |
| Tax Year | 2024 |
| Year Built Details | Actual |
| Year Built Source | Public Records |
| Zoning | R4 |
| Listing Agent | oleg elisev |
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Map
What's Nearby
Food
Durum Pasta Company
(0.54 miles)
YAS Chicken
(0.06 miles)
Cafe Bayon
(2.05 miles)
Golden Monkey Cafe
(0.37 miles)The Blue Ox
(1.23 miles)
Health & Medical
North Shore Dental Associates
(1.26 miles)
BayRidge Hospital
(0.9 miles)
Cozy Acupuncture
(2.98 miles)
osborne medical supply
(0.9 miles)
Flax Pond Chiropractic Care
(0.59 miles)
Shopping
Lynn Vintage Warehouse
(1.24 miles)Ravenstone
(1.2 miles)Salty Seas Vintage
(1.24 miles)All In One Convenience
(0.61 miles)Lady's Secret Boutique
(1.21 miles)
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505-509 Chatham, Lynn MA 01902 | © 2024 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS ARE DEEMED RELIABLE, BUT SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. THE NUMBER OF BEDROOMS LISTED ABOVE IS NOT A LEGAL CONCLUSION. EACH PERSON SHOULD CONSULT WITH HIS/HER OWN ATTORNEY, ARCHITECT OR ZONING EXPERT TO MAKE A DETERMINATION AS TO THE NUMBER OF ROOMS IN THE UNIT THAT MAY BE LEGALLY USED AS A BEDROOM. EQUAL HOUSING OPPORTUNITY.
505-509 Chatham, Lynn MA 01902 – 22 bed 12 bath For Sale – 73319791
$ 3,200,000
Status: Active
505-509 Chatham, Lynn MA 01902, Lynn, , Essex 01902
Country: US
Property Overview
MLS #: 73319791
Type: 5+ Family - 5+ Units Up/Down /
Action: Residential Income
Year Built: 1910 (Actual, Source: Public Records, Effective: )
Living Area: 13,810.00 ft2 (Total: 13810 Square Feet, Source: Owner)
Lot Size: 0.32 ft2 (Area: 0.32 Acres, SqFt: 13759)
Total Rooms: 99
Condition:
Availability:
Building Name:
Interior Features
Bedrooms: 22 (Main Level: )
Bathrooms: Total: 12 (Full: 12, Half: 0, Decimal: 12, Main Level: )
Basement:
Fireplaces: 0 ()
Flooring:
Laundry:
Window Features:
Door Features:
Accessibility:
Entry: Level , Location:
Other Equipment:
Construction & Design
Style:
Materials:
Foundation: Block (Area: )
Roof:
Stories: 3 (3)
Common Walls:
Body Type:
Utilities & Green Features
Heating:
Cooling:
Water Source: Public
Sewer: Public Sewer ()
Utilities:
Electric: (Expense: )
Gas:
Energy Certificate:
Green Energy Efficient:
Green Energy Generation:
Green Indoor Air Quality:
Green Water Conservation:
Insulation:
Exterior & Lot Features
Garage Spaces: 0
Covered Spaces: 0
Parking Total: 12
Parking Features:
Pool:
Spa:
Patio/Porch:
Fencing:
Lot Features: Level
View: (, Waterview Y/N: )
Waterfront:
Road Frontage: ()
Road Surface:
Road Responsibility:
Other Structures:
Horse Amenities:
Wooded Area:
Pasture Area:
Cultivated Area:
Additional Parcels: (Number: )
Outdoor Space:
Community & Association
Community Features:
Association Fee: ()
Fee Includes:
Association Amenities:
Pets Allowed:
Schools: E: , M: , H:
Zoning: R4 ()
MLS Area: Major: , Minor:
Management:
Optional Fee: (Includes: )
Property Description
505 Chatham Street, Lynn, MA is a solid investment opportunity featuring a 12-unit brick building on a large lot with 12 parking spaces. The apartments consist mostly of spacious 2-bedroom units, with a couple of 1-bedroom units, all fully deleaded. Many windows have been recently replaced, and the property includes coin-operated laundry in the basement, adding extra income potential. This well-maintained property offers strong rental income and excellent cash flow, making it a standout in Lynn’s rental market. The office phone number 617-564-1381.
Room Details
Living Room (): x ( sqft) - Features:
Dining Room (): x ( sqft) - Features:
Kitchen (): x ( sqft) - Features:
Master Bedroom (): x ( sqft) - Features:
Master Bathroom: Features:
Laundry Dimensions:
Multi-Unit Information (if applicable)
Total Units: 12
Units Owner Occupied:
Unit 1: Beds: 2, Full Baths: 1, Half Baths: 0, Levels: 1, Rent: 2150, Lease: Y
Unit 2: Beds: 2, Full Baths: 1, Half Baths: 0, Levels: 1, Rent: 1800, Lease: Y
Unit 3: Beds: , Full Baths: , Half Baths: , Levels: , Rent: , Lease:
Unit 4: Beds: , Full Baths: , Half Baths: , Levels: , Rent: , Lease:
Complex Complete:
Unit Building:
Financial & Lease Information
Tax Annual Amount: 30185.4 (Year: 2024)
Tax Assessed Value: 279670
Tax Block/Lot/Book/Map: / / 999 /
Parcel Number: 1997894
Special Licenses:
Current Financing:
Gross Income: 304029 (Scheduled: )
Net Operating Income: 218820
Operating Expense: 85209 (Water/Sewer: , Insurance: )
Financial Data Source:
APOD Available: Yes
Tenant Pays:
Rent Includes:
Total Actual Rent: 3950
Lease Term: (Existing Type: )
Deposit Required: (Security: , First Month: , Last Month: )
Insurance Required:
References Required:
Listing & Agent Information
Listing Agent: Oleg Elisev (MLS ID: CN218989) / Team:
Listing Office: (MLS ID: NB2539)
Agent (Property):
Buyer Agent MLS ID:
Buyer Office MLS ID:
Listing Agreement: Exclusive Right To Sell
Listing Contract Date: 2024-12-13
Expiration Date: 1900-01-01
Original List Price: 3300000
Price Per SqFt (List): 231.72
Market Time (Property): 68 (Broker: 68, Prev Broker: 0, Prev Property: 0)
MLS Status: Active
Possession:
Directions: Google please
Disclosures: , Y
Lead Paint: Yes
Title 5:
Exclusions:
Contingency:
Special Listing Conditions:
Lender Owned:
Short Sale Lender Approval Required:
Home Warranty Y/N:
Documents Available: (Count: )
Showings Deferral Date:
Open House Flag:
Listing Alert: No
Square Feet Disclosures: (Incl. Base: No, Other: )
Master Book/Page: / (Page: 999)
Sale Information (if applicable)
Close Date:
Close Price:
Price Per SqFt (Sold):
Anticipated Sold Date: 2025-03-19T04:00:00.000Z
Concessions Amount:
Purchase Contract Date: 2025-01-31
Sold vs Rent:
System Information
Property ID: 539201
Modification Timestamp: 2025-02-25T02:54:00.000Z
Bridge Modification Timestamp: 2025-02-25T02:56:02.541Z
Original Entry Timestamp: 2024-12-13T21:31:00.000Z
Status Change Timestamp: 2025-02-08T03:17:00.000Z
Off Market Date: 2025-01-31
Development Status:
Business Type:
