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Brian OKeefe

brian.okeefe@redfin.com +1(781) 591-9611

$ 549,900

Est. payment -/mo

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Price Dropped by $30K

9-11 Dungeon Ave Lynn, MA 01905

4 Beds

2 Baths

1,368 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,368 sqft

Price per Sqft $401

MLS Listing ID 73536785

Bedrooms 4

Full Baths 2

Year Built 1970

Annual Tax Amount $5,003

Tax Year 2026

Lot Size 0.280 Acres

Acres 0.28

Property Sub-Type Multi Family

Property Description

An excellent opportunity for an investor seeking immediate rental income with value-add potential. Currently generating $4,700/month ($56,400 annually) in rental income, with an approximately 8%+ projected cap rate based on current income and operating expenses. Tenants pay all utilities except water/sewer. All tenants are month-to-month, providing a new owner flexibility with the existing tenancies. Four off-street parking spaces. Both units have their own washer and dryer. The property is currently occupied, livable, and income-generating, but it does need updating. The interior has received fresh paint in several areas, while the exterior would benefit from updated vinyl siding/wrapping. This creates a great value-add opportunity for an investor to improve the property over time and further increase rents. The property has consistently generated extremely strong rental demand and would be perfect for an owner-occupant. Sold as-is, but currently generating high income and always occupied.

Location

State MA

County Essex

Zoning R2

Direction Route one to Walnut Street. Left onto Dungeon Ave.

Interior

Heating Electric

Cooling Window Unit(s)

Flooring Tile, Vinyl

Appliance Range, Microwave, Refrigerator, Washer, Dryer, Dishwasher

Laundry Electric Dryer Hookup, Washer Hookup

Exterior

Community Features Public Transportation, Shopping, Golf, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station

Utilities Available for Electric Range, for Electric Dryer, Washer Hookup

Roof Type Shingle

Total Parking Spaces 3

Garage No

Building

Lot Description Wooded

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

Others

Senior Community false

Virtual Tour https://911dungeonave.com?mls

Listed by The Aland Realty Group LLC