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386 Summer St, Lynn, MA 01905
$5,200,000
386 Summer St, Lynn, MA 01905View this property at 386 Summer St, Lynn, MA 01905
386 Summer StLynnMA01905
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Property Description
This is your opportunity to own 20 approved condos, With 2 Bedrooms 1 Bath in every unit . Currently utilized as rental apartments. Several units have been updated, featuring modern kitchens, granite or formica countertops, an array of flooring including hardwood, laminate, tile and carpet. Additionally, the convenience of in-unit laundry hook-ups, 20 parking spaces and so much more. With a substantial monthly rental roll of $30,000 and the potential for future rent adjustments, this offering presents an ideal opportunity for savvy investors seeking a high-quality asset poised for growth. Perfectly situated with easy access to the T Station and several bus lines, and in close proximity to many shops and malls, this property seamlessly combines convenience and quality, making it a compelling investment prospect. Please call for appt.
Full Property Details
Full Property Details for 386 Summer St
General
- Price: $5,200,000
- Taxes: $45,000 (2023)
- Status: Active
- Type: Commercial
- MLS ID: 73161244
- Updated: 1/23/2024
- Added to Site: 240 day(s) ago
Business
- Business Type: 5+ Residential
Parking
- Total Spaces: 20
Location
- County: Essex
- Driving Directions: Google map
Utilities
- Utility Description: Public Water, Public Sewer, Natural Gas Available
Structural Information
- Roof: Shingle
- Square Feet: 3,600
- Year Built: 1985
Lot Features
- Lot Size (Acres): 0.39
- Lot Dimensions: .39
- Zoning: Legal Conforming
Financial Considerations
- Tax Amount: $45,000
- Tax Year: 2023
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2
- Facilitator Compensation: 2
- Disclosures/Rstr.: Currently being rented as Apartments but approved for condos.
- Property ID: 2007231
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Schools
Schools serving 386 Summer St
School District:Lynn School Department
Rating | Name | Grades | Distance |
---|---|---|---|
50 Elm St, Lynn, MA 01905 | PK-5 | 0.1 mi | |
William R Fallon School
100 Robinson St, Lynn, MA 01905 | PK-5 | 0.8 mi | |
33 N Common St, Lynn, MA 01902 | 6-12 | 0.5 mi | |
90 Ocallaghan Way, Lynn, MA 01905 | 6-8 | 1.4 mi | |
235 Ocallaghan Way, Lynn, MA 01905 | 9-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 386 Summer St
Date
Details
Price
Change
Source
10/10/2023
Price Reduced
$5,200,000
-7.14%
MLS
9/20/2023
Listed
$5,600,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 386 Summer St
386 Summer St, Lynn, MA 01905 (MLS# 73161244) is a Commercial property. 386 Summer St is currently listed for $5,200,000 and was received on September 20, 2023. This property is listed by Louise Touchette Team from our Lynnfield Office.Want to learn more about 386 Summer St? Do you have questions about finding other Commercial real estate for sale in Lynn? You can browse all Lynn real estate or contact a Coldwell Banker agent to request more information.