108 Franklin St
$7,200,000
55
Beds
30
Baths
23,316
Sqft
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$7,200,000
55
Beds
30
Baths
23,316
Living Area
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Property Description
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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Highlights
- Levels: 5
- Property Class: Residential Income
- Stories: 5
- Year Built: 1960
- Parking Spots: 32
- Property Type: 5+ Family - 5+ Units Up/Down
- Total Rooms: 99
- Status: Active
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Additional Details
- Foundation: Other
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: R3
- Roof: Shingle
- Total Number of Units: 30
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Pool, Tennis Court(s), Park, Golf, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station
- Parking Features: Paved Drive, Off Street
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Utilities
- Electric: Individually Metered
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $5,854,600
- Tax Year: 2026
- Total Rent: $32,767
- Rental Fee Includes: Unit 1(Heat, Water, Hot Water), Unit 2(Heat, Water, Hot Water), Unit 3(Heat, Water, Hot Water), Unit 4(Heat, Water, Hot Water)
- Taxes: $60,302
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Listing information provided courtesy of Horvath & Tremblay.
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