229 Lewis StLynn, MA 01902

Property Details for 229 Lewis St

Year built

2010

Lot size

0.13 AC

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 10-unit mixed-use brick building situated on a 0.13-acre lot at 229 Lewis Street in Lynn, Massachusetts. Constructed from the ground up in 2010, this property boasts significant recent upgrades, including a newer roof, plumbing, electrical system, and commercial-grade central air conditioning. Safety features are comprehensive with a hard-wired smoke and sprinkler system installed throughout. The building's layout comprises five commercial retail units on the ground floor, generating consistent income with built-in annual rent increases. Above, the second and third floors house five three-bedroom, one-bathroom apartments, all in excellent condition and equipped with washer and dryer hookups. A key advantage is that tenants are responsible for all utilities. All units are currently leased, ensuring immediate cash flow. The property is meticulously maintained, with absolutely no deferred maintenance. This turnkey investment offers a rare chance to acquire a high-return asset with minimal ongoing expenses. Furthermore, a profitable laundry mat business is included in the sale at no additional cost, adding further value to this already impressive offering. The asking price for this exceptional property is $3,900,000.

Location Insight

City

Lynn

County

Essex

State

Massachusetts

Latitude

42.4645

Longitude

-70.9344

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