Sold for $3,525,000

$3,525,000

31 Franklin St, Lynn, MA 01902

18beds

11,316sqft

5+ Family - 5+ Units Side by Side

Built in 1970

-- sqft lot

$-- Zestimate^®

$312/sqft

$-- Estimated rent

Home value

Not available

Estimated sales range

Not available

Zestimate^® history

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$21,752/mo

Est. payment

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$21,752/mo

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What's special

31 Franklin Street contains eighteen 1-Bedroom/1-Bathroom units. The well-maintained Property features an on-site laundry facility, storage units and eighteen on-site parking spaces. In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply constrained residential market. The Property is well-located along Franklin Street and is 0.1-miles from Market Street and 0.3-miles from Western Avenue. The Property is situated along the edge of Downtown Lynn and is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities including Central Square, BayRidge Hospital, North Shore Community College, and Lynn Beach.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 18
Bathrooms: 18
Full bathrooms: 18

Appliances

Included: Washer, Dryer

Features

Basement: Unfinished
Has fireplace: No

Interior area

Total structure area: 11,316
Total interior livable area: 11,316 sqft

Property

Parking

Total spaces: 18
Parking features: Off Street
Uncovered spaces: 18

Lot

Size: 0.27 Acres
Features: Other

Details

Parcel number: 2003625
Zoning: BD3

Construction

Type & style

Home type: MultiFamily
Property subtype: 5+ Family - 5+ Units Side by Side

Materials

Foundation: Block
Roof: Rubber

Condition

Year built: 1970

Utilities & green energy

Electric: Individually Metered
Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: Public Transportation, Shopping, Pool, Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Bike Path, Conservation Area, Highway Access, House of Worship, Marina, Private School, Public School, T-Station, University

Location

Region: Lynn

Financial & listing details

Price per square foot: $312/sqft
Tax assessed value: $3,294,400
Annual tax amount: $34,690
Date on market: 1/1/2026
Total actual rent: 25245

Price history

Date	Event	Price
8/12/2024	Sold	$3,525,000-7.2%$312/sqft
Source: MLS PIN #73247670 Report a problem
6/19/2024	Contingent	$3,800,000$336/sqft
Source: MLS PIN #73247670 Report a problem
6/5/2024	Listed for sale	$3,800,000$336/sqft
Source: MLS PIN #73247670 Report a problem