ESSEX LYNN, MA 01902

Features

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Facts

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Description

This property is offered for sale with Owner Financing available. With Owner Financing, owners can offer flexible terms which allow buyers to purchase property without a traditional bank loan. This leaves more room for negotiation on loan terms and approvals.

mash-certified apartment building on the lynn/swampscott line, providing beds for 17 clients plus a live-in manager. each floor is self-contained with a private kitchen, living room, den, and bathroom. first floor 6 rooms / 2 bedrooms, second floor 6 rooms / 3 bedrooms, third floor 6 rooms / 4 bedrooms. all bedrooms are double occupancy and 100% occupied at $795 monthly rent per bed. conveniently located on a bus line with shops across the street. upgraded heating and hot water systems installed within the last two years. the roof is less than 10 years old. turnkey opportunity. off-street parking, fenced-in backyard, rear decks off of each floor. quiet family neighborhood. the property is in very good shape with nothing left to do. cap rate 8.24%, cash on cash return 12.4%. owner financing provided.