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+17749920297
RE/MAX Vantage
9-11 Dungeon Ave, Lynn, MA 01905
- $579,900
- 4
- BD
- 2
- BA
- 1,368
- SqFt
- List Price
- $579,900
- Price Change
- ▼ $19,100 1789084991
- Status
- ACTIVE
- MLS#
- 73536785
- Bedrooms
- 4
- Bathrooms
- 2
- Full Baths
- 2
- Living Area
- 1,368
- Lot Size (Acres)
- 0.28
- Year Built
- 1970
Property Description
Excellent opportunity for an investor looking for 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.
Additional Information
- Taxes
- $5,003
- Parking Description
- Paved Drive, Off Street, Paved
- Lot Description
- Wooded
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Forrest Homes Group from Listing Office: The Aland Realty Group LLC.
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