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Sold on 06/19/2024
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31 Franklin St, Lynn, MA 01902

  • $4,100,000

    Last sold 06/19/2024 for $3.52M

  • 18

    bed

  • 18

    bath

  • 11,316

    Sqft ($312/Sqft)

Multi-family not for sale
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About 31 Franklin St

Property type Multi-family
Neighborhood
Year built 1970
HOA fee $0/month
Lot size 0.27 Acre
Movoto estimate
Property description
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.
Listed by
Listing Agent - Dennis Kelleher
Listing Office - Horvath & Tremblay
Source: MLS Property Information Network, Inc. mls logo
MLS#73247670 • last updated 1 year ago
Movoto checked MLS Property Information Network, Inc. for data 4 minutes ago
Overview
Levels/Style 3
MLS # 73247670
Type Residential Income
Status Closed
SubType 5+ Family - 5+ Units Side By Side
SqFt 11316
Lot Size (SqFt) 11761
Lot Size (Acres) 0.27
Annual Property Tax 34690
Year Built 1970
Interior
Total # of Bathrooms 18
# Full Baths 18
Total # of Bedrooms 18
Basement Unfinished
Total # of Rooms 54
Appliances Washer, Dryer
Exterior
Foundation Block
Roof Rubber
Parking Desc Off Street
# Parking Spaces 18
Lot Desc Other
Amenities / Utilities
Sewer Public Sewer
Electricity Individually Metered
Water Source Public
Location
County Essex
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
Zoning BD3
APN 2003625
Directions Please Use GPS
Multifamily Details
Rent Includes Unit 1(Heat, Water, Hot Water), Unit 2(Heat, Water, Hot Water)
Net Operating Income 168090
Operating Expense 138090
Total Actual Rent 25245
Gross Income 306180
Lot/ Land Details
Road Frontage Public
$4.1M
Range: $2.7M-$5.49M
Last 30 days 
  • Jun 2024
    mls logo MLS # 73247670
  • Jun 19, 2024 Active
    —
  • Jun 5, 2024 Listed
    $3,800,000
  • 31 Franklin St
    $3.52M
  • Central Lynn
    $494K +47% y/y
  • 01902
    $479K +36% y/y
  • Lynn
    $529K -8% y/y
No chart available
Statistics calculated by Movoto

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3/10
Cobbet Elementary School
public Grades K-5
Lynn School District
N/A
William R Fallon Elementary School
public Grades 1-5
Lynn School District
1/10
Fecteau-Leary Junior/Senior High School
public Grades 6-12
Lynn School District
4/10
Breed Middle School
public Grades 6-8
Lynn School District
2/10
Classical High School
public Grades 9-12
Lynn School District
Source: GreatSchools.org © 2026. All rights reserved.

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The real estate listing data marked with this icon comes from the IDX program of the Massachusetts Multiple Listing Service™ system.
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 in 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.
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