Sold!
$3,000,000
46
Beds
4/4
Baths
10,585
Living Area
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Property Description
376 Washington Street offers a rare chance to acquire a stabilized multifamily asset in the heart of Lynn. The property includes 46 furnished SRO units with shared kitchens, coin-op laundry, four full and four half bathrooms. Supported by newer building systems, it delivers operational efficiency, reduced near-term capital needs, and a strong 10% cap rate with consistent occupancy and reliable cash flow. Professionally managed with staffing and compliance in place, it ensures a seamless transition for new ownership. Located in a federally designated Opportunity Zone, it provides potential tax benefits alongside strong performance. Monthly rent is approximately $46,516, and the seller will consider a buyer’s property in trade for a 1031 exchange.
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Highlights
- Levels: 4
- Property Type: 5+ Family - Rooming House
- Total Rooms: 46
- Status: Closed
- Property Class: Residential Income
- Stories: 4
- Year Built: 1912
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Additional Details
- Foundation: Stone
- SqFt Source: Public Record
- Year Built Source: Public Records
- Roof: Rubber
- Year Built Details: Actual
- Zoning: Cbd
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Amenities
- Parking Features: Paved Drive
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $2,356,700
- Taxes: $24,415
- Tax Year: 2025
- Total Rent: $2,111
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Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of One Call Realty.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
