229 Lewis Street

Lynn, MA 01902

$3,900,000
Price
15
Beds
10
Baths
12,500 Sq. Ft.
$312 / Sq. Ft.
12,500
Sq. Ft.
$312
per Sq. Ft.

Description

~~~~~7% Return Ratio ~~~ 10 unit mixed use brick building built from ground up in 2010. Newer roof, newer plumbing, newer electrical, central AC all commercial grade. Hard wired smoke and sprinkler system as well. Property consists of (5) commercial retail units on first level. (Five) 3 bed 1 bath apartments on 2nd and 3rd floors in excellent condition. Washer and dryer hookups in all apartments. Tenants pay all utilities. All tenants have leases. Commercial tenants have rate increases built in yearly....~~~~~7% Return Ratio ~~~ 10 unit mixed use brick building built from ground up in 2010. Newer roof, newer plumbing, newer electrical, central AC all commercial grade. Hard wired smoke and sprinkler system as well. Property consists of (5) commercial retail units on first level. (Five) 3 bed 1 bath apartments on 2nd and 3rd floors in excellent condition. Washer and dryer hookups in all apartments. Tenants pay all utilities. All tenants have leases. Commercial tenants have rate increases built in yearly. Absolutely no deferred maintenance, nothing to do but collect your rents and watch as they increase.
  1. Listed by Rebecca Huang • East West Real Estate, LLC

Property Details for 229 Lewis Street

Town
Lynn
Area
MA-Lynn
Garage Spaces
0
Parking Spaces
2.00
Parking Spaces Total
2
LISTING UPDATED: 01/15/2025 11:10 AM

Property Details for 229 Lewis Street

StatusNew
MLS #73326316
Days on Market1
Taxes$17,946 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built2010
CountyEssex County

Building Information for 229 Lewis Street

Stories10Residences10Year Built2010Building Size-Lot Size0.13 AC / 5,655 SF

Property Information for 229 Lewis Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Shopping
  • Living Area: 12500.0
  • SqFt with Basement: No
  • Total Units: 10
  • Waterfront: No
  • Year Built Details: Actual,Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Num of Baths: 10.0
  • Num of Full Baths: 10
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 10.00
  • Bathrooms Total Integer: 10
  • FireplaceYN: No
  • Fireplaces: 0
  • SpaYN: No
Exterior Features
  • Lot Description: Corner Lot
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive
  • Open Parking: Yes
  • Parking Features: Paved Drive
Utilities
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Disclosures: Seller is the owner of Laundromat. Business and equipment convey with the sale. After all expenses paid,roughly 5k $ profit per month. This is expressed in total NOI. Seller's agent make no representation. Buyer/ Buyer agent to do their own due diligence for all accurate info prior to contract.
Tax Information
  • Tax ID: M:093 B:519 L:026
  • Assessments: $1,704,300
  • Book: 0
  • Tax Year: 2024
  • Zoning: BD
Building / Association Information
Living Characteristics
  • Beds Total: 15
  • Total Living Levels: 10
Other Building Characteristics
  • Foundation: Concrete Perimeter
Income / Expenses
  • GOI: $298,080.00
  • Insurance: $8,500.00
  • GRE: $8,860
  • HTE: $0
  • NOI: $127,940.00
  • Operating Expense: $8,860.00
  • WSE: $360.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 2
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 2
  • Lease U3: Y
  • Levels U3: 2
Unit 4 Description
  • Floor U4: 2
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $24,840.00

Property History for 229 Lewis Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 229 Lewis Street

This home is within Lynn School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 1 to 5
Public - 6 to 8
Public - 6 to 12
Rating
School
Distance
Brickett Elementary School
PublicK to 5

William R Fallon Elementary School
Public1 to 5

Thurgood Marshall Middle School
Public6 to 8

Fecteau-Leary Junior/Senior High School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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229 Lewis Street is a multi-family home for sale in Lynn, MA 01902. This property was listed for sale on January 15, 2025 by East West Real Estate, LLC, it's currently listed at $3,900,000. This listing's school district is Lynn School District. Nearby schools include Brickett Elementary School, William R Fallon Elementary School and Thurgood Marshall Middle School. 229 Lewis Street is a 15-bed, 10-bath, 12,500 sqft multi-family home built in 2010.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of East West Real Estate, LLC, Rebecca Huang

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.