108 Franklin St, Lynn MA 01902
Lynn, MA 01902
$7,200,000
Est. $41,632/month
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About this home
108 Franklin St contains thirty (30) total units comprised of twenty-five (25) 2-Bedroom/1-Bathroom units, four (4) 1-Bedroom/1-Bathroom units, and one (1) Studio unit. The Property is situated upon a 0.50-acre parcel and offers ample parking with thirty-two (32) spaces available via a large parking lot to the front of The Property. The Property is separately metered for electricity, which tenants pay directly. The Landlord is responsible for gas powered hot water and heat, common area electricity, and city water and sewer. The Property is strategically located near downtown Lynn, offering excellent visibility and accessibility within one of the North Shore’s most dynamic urban centers. In-place rents are below the current market rates; the opportunity exists to continue to upgrade unit interiors and common areas to drive rental rates in an urban-infill, high demand/supply constrained residential mar
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Recently Sold Nearby
Property History
Property Timeline
Listed for Sale
Apr 21, 2026
$7,200,000
Original listing
Agent: Stephen Girolamo
Office: Horvath & Tremblay
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 04/21/2026 | 🏠 Listed for Sale | $7,200,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $60,302 | $5,854,600 |
Financial Details
Annual Property Tax
$60,302
Tax Year 2026
Assessed Value
$5,854,600
Facts & Features
Home Facts
Type
Residential Income
Style
5+ Family - 5+ Units Up/Down
Year Built
1960
Living Area
23,316 sq ft
Lot Size
0.50 acres
Stories
5
Bedrooms
55
Full Baths
30
Total Rooms
99
Investment Metrics
Units
30
Unit 1 Rent
$1,900/mo · N
Unit 2 Rent
$2,400/mo · Y
Unit 3 Rent
$1,900/mo · N
Unit 4 Rent
$2,100/mo · N
Total Monthly Rent
$8,300/mo
Gross Income
$711,011
Net Operating Income
$467,015
Operating Expenses
$243,996
Cap Rate
6.49%
Interior
Heating
None
Cooling
None
Flooring
None
Appliances
None
Fireplace
None
Basement
None
Laundry
None
Features
None
Exterior
Construction
None
Architecture
None
Roof
Shingle
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
Paved Drive, Off Street
Total Spaces
32
Utilities
Electric
Individually Metered
Water
Public
Sewer
Public Sewer
Gas
None
Other
None
Financial
Annual Tax
$60,302
Assessed Value
$5,854,600
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Lead Paint
Unknown
Seller Disclosures
Total Monthly Rent Is $59, 075 - $32, 767 Is The Maximum Input Allowed By Mls.
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Sq Ft Source
Public Record
Sq Ft Disclosures
There is a total of 114 rooms, 99 is the max allowed by MLS.
Documents
None
County
Essex
Total market time (incl. prior listings)
118 days
Property Overview
Property Type
5+ Family - 5+ Units Up/Down
Listing Type
For Sale
Year Built
1960
Bedrooms
55
Full Bathrooms
30
Living Area
23,316 sq ft
Total Rooms
99
Stories
5
Levels
5
Floor Layout
Interactive room guide
Floor Layout
Finished Area
23,316 sq ft above grade
Display Options
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:
Construction & Materials
Year Built:
1960
Structure Type:
Exterior Materials:
Roof:
Shingle
Foundation:
Other
Stories:
5
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Natural Gas
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:
Parking & Garage
Total Parking Spaces:
32
Parking Features:
Paved Drive, Off Street
Nearby Schools
School District
Lynn School District local
D
School Safety
2024-25
3.5%
Above Average
3.0%
Suspensions
0.3%
In-School
0.1%
Expulsions
0.4%
Emergency
2.0% below state avg
Elementary Schools
10 schools
B-
KIPP Academy Lynn Charter School
0.4 mi
|
#197 of 346
|
Score: 51.6
Improved 64 spots from last year
-6.6 below state avg
1,637 students
Moderate
High Graduation Rate
Rising School
College Ready Curriculum
Grades K-12
C-
Lynn Vocational Technical Institute
0.6 mi
|
#284 of 346
|
Score: 42.8
Improved 50 spots from last year
-15.5 below state avg
1,584 students
Moderate
Early College Program
Rising School
Career Tech Programs
Grades PK-12
Sacred Heart Elementary School
0.9 mi
Grades PK-08
St. Pius V Elementary School
1.0 mi
Grades PK-08
North Shore Christian School
1.5 mi
Grades PK-08
The Hathaway School
1.6 mi
Grades PK-08
TEAMS Academy at Virginia Barton Center
1.9 mi
Grades PK-12
C-
Cobbet Elementary School
0.2 mi
|
#696 of 824
|
Score: 36.0
Improved 70 spots from last year
-22.3 below state avg
616 students
Less Diverse
Rising School
Grades PK-05
C
Washington Elementary School
0.4 mi
|
#646 of 824
|
Score: 38.4
Improved 125 spots from last year
-19.8 below state avg
453 students
Moderate
Rising School
Grades K-05
C-
Wm. P. Connery Elementary School
0.5 mi
|
#719 of 824
|
Score: 34.2
Improved 75 spots from last year
-24.1 below state avg
563 students
Moderate
Rising School
Grades K-05
Middle Schools
2 schools
C+
Pickering Middle School
1.4 mi
|
#226 of 352
|
Score: 38.6
Improved 81 spots from last year
-19.6 below state avg
583 students
Diverse
Rising School
Grades 06-08
C-
Thurgood Marshall Middle School
1.4 mi
|
#311 of 352
|
Score: 30.5
Improved 40 spots from last year
-27.7 below state avg
1,310 students
Moderate
Rising School
Grades 06-08
High Schools
6 schools
City Arts & Sciences Academy at Fecteau-Leary
0.3 mi
Grades 06-12
St. Mary's High School
0.5 mi
Grades 07-12
B
Fredrick Douglass Collegiate Academy
0.9 mi
|
#12 of 25
|
Score: 33.4
Improved 330 spots from last year
-24.8 below state avg
235 students
Moderate
Early College Program
Rising School
Grades 06-12
B-
Harold Durgin Success Academy
0.3 mi
|
#16 of 25
|
Score: 30.4
Improved 329 spots from last year
-27.8 below state avg
94 students
Diverse
Rising School
Career Tech Programs
Grades 09-12
D
Lynn English High School
0.9 mi
|
#318 of 346
|
Score: 33.5
Improved 37 spots from last year
-24.8 below state avg
2,062 students
Moderate
18 sports
• 1,425 athletes
Early College Program
Rising School
Career Tech Programs
Strong Athletics
Grades 09-12
C-
Classical High School
1.5 mi
|
#302 of 346
|
Score: 37.9
Improved 51 spots from last year
-20.3 below state avg
1,795 students
Moderate
Early College Program
Rising School
Career Tech Programs
Grades 09-12
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Including down payment
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Down: $0
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Monthly Payment Breakdown
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Property Tax
$5,025
Homeowners Insurance
$200
PMI (if <20% down)
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Loan Summary
Total of 360 payments
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Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
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Location
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Neighborhood
108 Franklin St, Lynn MA 01902
Lynn, MA 01902
Listing Information
Listing Agent
Stephen Girolamo
Listing Office
Horvath & Tremblay
Office Phone
781-776-4000
Agent MLS ID
CN227795
Office MLS ID
AN2723
Listing Data Updated
Aug 17, 2026 3:05 AM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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