207 Chestnut StLynn, MA 01902

Property Details for 207 Chestnut St

Property type

Apartment buildings

Description

Exceptional investment opportunity: a meticulously renovated, nine-unit Class A apartment building in Lynn, Massachusetts. This stabilized property boasts 100% occupancy, generating a strong NOI of $200,000 and a compelling 5.84% cap rate. Asking price is $3,425,000, representing $380,555.56 per unit. Completed in 2024, the building features modern amenities including new HVAC systems, granite countertops, laminate flooring, and a secure mail and security vestibule. Additional benefits include 23 fenced parking spaces, a full unfinished basement offering significant upside potential, and separate sub-meters for each unit. The property's prime location offers convenient access to public transportation, including the Swampscott Commuter Rail and local bus routes, as well as nearby schools, restaurants, shops, and beaches. This turnkey investment presents a rare opportunity to acquire a high-performing, well-maintained multifamily asset in a desirable location. The building is fully sprinklered and equipped with Navien H2O heaters and natural gas HVAC systems. The property is situated just blocks from Swampscott and Kings Beach.

Location Insight

City

Lynn

County

Essex

State

Massachusetts

Latitude

42.471

Longitude

-70.9381

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