9 Needhams Landing Rd | Lynn, MA 01905
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- LoopNet Team
9 Needhams Landing Rd
Lynn, MA 01905
Needhams Landing Apartments · Multifamily Property For Sale
·
42 Units
INVESTMENT HIGHLIGHTS
- low vacancy
- value-add potential by increasing rents by $50 per unit, which would raise the cap rate to 5.2% at a valuation of $10,750,000
- Assumable government loan at a highly attractive 3.99% fixed rate for the next 28 years—non-recourse, with an approximate balance of $6.2m
PROPERTY FACTS
| No. Units | 42 | Lot Size | 0.56 AC |
| Property Type | Multifamily | Building Size | 29,888 SF |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built | 2015 |
| Building Class | C | ||
| Zoning | R4 | ||
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 29,888 SF |
| No. Stories | 5 |
| Year Built | 2015 |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | - |
| 1+1 | 13 | - | - |
| 2+1 | 13 | - | - |
PROPERTY TAXES
| Parcel Number | LYNN-000019-000305-000025 | Improvements Assessment | $9,964,983 |
| Land Assessment | $4,849,610 | Total Assessment | $14,814,593 |
PROPERTY TAXES
Parcel Number
LYNN-000019-000305-000025
Land Assessment
$4,849,610
Improvements Assessment
$9,964,983
Total Assessment
$14,814,593
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