For Sale
$4,000,000
526 Western Ave Lynn, MA 01904
16-unit apartment building, high ROI potential
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 131
Highlights
- Prime Downtown Lynn Location: 0.1 miles from Stop & Shop, walkable to restaurants, shops, entertainment, BayRidge Hospital, and North Shore Community College.
- Significant Value-Add Opportunity: Below-market rents offer potential for rental rate increases through unit upgrades in a high-demand market.
- Nearby New Construction: The Mosaic, a 147,500 SF mixed-use development with 146 units, is 0.9 miles away, indicating strong market demand.
- Excellent Transit Connectivity: Located on Route 107, minutes from Routes 1A, 129, and 129A; served by multiple MBTA bus routes; 0.8 miles from the Central Square Commuter Rail station.
- Efficient Utility Setup: Separately metered gas and electric for tenants; landlord pays common area electric, hot water, and sewer.
- Strong Local Demographics: Over 49,300 residents within 1 mile, average household income $73,681; over 139,000 residents within 3 miles, average household income $90,103.
Property Details for 526 Western Ave
- Property type
- Apartment buildings
- Square Feet
- 22,000 SF
- Year Built
- 1910
- Buildings
- 1
- Stories
- 4
- Lot Size (sq. ft)
- 5,663 SF
- Units
- 16
Location Insight
- City
- Lynn
- County
- Essex
- State
- Massachusetts
- Latitude
- 42.46856305
- Longitude
- -70.95840285
Nearby Similar for Sale
FAQs
- What type of property is this?
- Apartment building - 16-unit apartment building, high ROI potential
- Where is the apartment building located?
- The property is located at 526 Western Ave Lynn, MA.
- What is the asking price?
- The asking price for this property is $4,000,000.
- What are key features of this property?
- This property features: Prime Downtown Lynn Location: 0.1 miles from Stop & Shop, walkable to restaurants, shops, entertainment, BayRidge Hospital, and North Shore Community College.; Significant Value-Add Opportunity: Below-market rents offer potential for rental rate increases through unit upgrades in a high-demand market.; Nearby New Construction: The Mosaic, a 147,500 SF mixed-use development with 146 units, is 0.9 miles away, indicating strong market demand.
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