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56-60 Cottage St
Lynn, Massachusetts MA 01905
Sold For: $1,325,000
Listing ID 72930753
Status Closed
Sold Date 4/29/2022
Bedrooms 12
Full Baths 8
Total Baths 6
SqFt 6,495
Acres 0.070
Year Built 1900

Property Description:

Attention Investors!! Large Well-Maintained 6 Unit Building! 24 Rooms, 12 Bedrooms, 6 Bathrooms. Spacious Apartments With Eat-In Kitchens, Updated Baths and Hardwood Floors. All Units Have Delead Certificates! 6 Separate Gas Heating Systems, 6 Gas Hot Water Tanks and 200 AMP Service With 7 Separate Electric Meters, Newer Plumbing, and Rubber Roof. 3 Car Parking On Paved Driveway And Additional Street Parking. Coin-Op Laundry In Basement. Steps To Northern Rail Community Trail With Playground, Market Basket, Shopping, Restaurants and Public Transportation. The Property Is Generating Income At Over 6% Cap Rate! Don't Miss Out On This Great Investment Opportunity!
Colleen Toner

Primary Features

County: Essex
Property Sub Type: 5-9 Family
Property Type: Residential Income
Year Built: 1900


Appliances: Gas Water Heater, Utility Connections for Gas Range, Utility Connections for Electric Range, Utility Connections for Gas Oven, Utility Connections for Electric Oven, Utility Connections for Electric Dryer
Basement: Unfinished
Bathrooms Total Decimal: 8
Building Area Units: Square Feet
Flooring: Hardwood
Heat Units: 6
Interior Features: Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen), Unit 3 Rooms(Living Room,Kitchen), Unit 4 Rooms(Living Room,Kitchen)
Laundry Features: Washer Hookup
Living Area: 6495
Rooms Total: 24
Stories Total: 9


Electric: Circuit Breakers, 200+ Amp Service
Farm Land Area Units: Square Feet
Foundation Area: 2000
Foundation Details: Slab
Lot Features: Level
Lot Size Area: 0.07
Lot Size Square Feet: 3092
Lot Size Units: Acres
Number Of Units Total: 6
Open Parking: 1
Parking Features: Paved Drive, Off Street, Paved
Parking Total: 3
Patio And Porch Features: Porch
Road Frontage Type: Public
Roof: Rubber
Sewer: Public Sewer
Utilities: for Gas Range, for Electric Range, for Gas Oven, for Electric Oven, for Electric Dryer, Washer Hookup
Water Source: Public


Building Area Source: Public Records
Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Bike Path, Public School
Country: US
Directions: Boston St to Cottage St
Elementary School: Lynn Public
High School: Lynn Public
Middle Or Junior School: Lynn Public
Waterfront Features: Beach Front, Ocean, 1 to 2 Mile To Beach, Beach Ownership(Public)
Zoning: R4


Color: Yellow
FLRS 2: 1
FLRS 3: 2
FLRS 4: 2
GRE: 22750
Lead Paint: Certified Treated
Levels 1: 1
Levels 2: 1
Levels 3: 1
Levels 4: 1
Listing Alert: No
Mls Status: Sold
FLRS 1: 1
Offline List Number: 3244219
Page: 107
RFS: 540
Year Built Details: Approximate
Year Built Source: Public Records


Buyer Agency Compensation: 2
Compensation Based On: Net Sale Price
Contingency: Financing
Current Financing: Conv. Fixed
Disclosure: N
Down Payment Resource: No
Electric Expense: 800
Financial Data Source: Owner
Gross Income: 105900
Gross Scheduled Income: 640
Insurance Expense: 5500
Lease 1: Y
Lease 2: N
Lease 3: N
Lease 4: N
List Price Per SqFt: 192.44
Net Operating Income: 83150
Operating Expense: 22750
Price Per SqFt: 204
Sub Agency Offered: No
Tax Annual Amount: 12148
Tax Assessed Value: 909800
Tax Book Number: 7264
Tax Year: 2021
Total Actual Rent: 8700
Transaction Broker Compensation: 2
Water Sewer Expense: 3120

Zoning Info

© 2023 MLS Property Information Network, Inc. (MLSPIN). The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. This information was last updated on Saturday, June 3rd, 2023. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Please contact Toner Real Estate directly for additional information pertaining to the status and availability of properties displayed on this website.

Contact - Listing ID 72930753

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Colleen Toner

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