Sold!
$4,200,000
28
Beds
18
Baths
14,226
Living Area
-
Property Description
55 Broad Street in Lynn, Massachusetts is a brick garden-style apartment building built in 1974 and consists of 18 units, 20 surface parking with on-site laundry facility. The property boasts an attractive unit-mix which consists of one (1) Studio, eleven (11) one-bedroom units and six (6) two-bedroom units. The total rentable square footage is 14,226 with a total gross square footage of 15,393 and situated on a tree lined corner lot of .36 acres (15,582 square feet). 55 Broad offers investors a strong rental history and the opportunity to bring undervalued rents to market through strategic renovations of the apartments. The current ownership has completed many capital improvements, such as replacement of high-efficient dual boilers and storage tank, varying unit renovations, parking lot retaining wall and repaving/striping, replacement of 75% of patio sliders and rear entrance stairs.
-
Highlights
- Area: Diamond District
- Property Class: Residential Income
- Total Rooms: 58
- Status: Closed
- Parking Spots: 20
- Property Type: 5+ Family - 5+ Units Up/Down
- Year Built: 1974
-
Additional Details
- Construction: Frame, Brick, Stone
- Flooring: Vinyl, Hardwood
- Foundation Area: 4735
- Lot Features: Corner Lot, Level
- Roof: Shingle, Rubber
- Year Built Details: Actual
- Zoning: R4
- Exterior Features: Balcony, Rain Gutters
- Foundation: Slab
- Interior Features: Laundry Room
- Road Frontage Type: Public
- Total Number of Units: 18
- Year Built Source: Public Records
-
Amenities
- Community Features: Public Transportation, Shopping, Walk/Jog Trails
- Waterfront Features: Beach Front, Ocean, 3/10 to 1/2 Mile To Beach, Beach Ownership(Public)
- Parking Features: Paved Drive, Off Street, Assigned, Paved
-
Utilities
- Electric: Circuit Breakers
- Water Source: Public
- Sewer: Public Sewer
-
Fees / Taxes
- Assessed Value: $3,085,600
- Compensation Based On: Net Sale Price
- Taxes: $34,404
- Buyer Agent Compensation: 1%%
- Tax Year: 2023
- Total Rent: $32,767
Similar Listings
Sold
15 Photos
Sold
23 Photos
Sold
17 Photos
Sold
15 Photos
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 North Shore Realty Advisors.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
