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9-11 Dungeon Ave, Lynn, MA 01905

$579,900
•
  • 4

    bed

  • 2

    bath

  • 1,368

    Sqft ($424/Sqft)

Multi-family for sale 94 days
$19.1K price drop
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About 9-11 Dungeon Ave

Property type Multi-family
Neighborhood
Year built 1970
HOA fee $0/month
Lot size 0.28 Acre
Movoto estimate
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.
Listed by
Listing Office - The Aland Realty Group LLC
Source: MLS Property Information Network, Inc. mls logo
MLS#73536785 • last updated 1 day ago
Movoto checked MLS Property Information Network, Inc. for data 4 minutes ago
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Overview
Cooling/AC Window Unit(s)
Heating Electric
Levels/Style 2, 2
MLS # 73536785
Type Residential Income
Status Active
SubType Multi Family
SqFt 1368
Lot Size (SqFt) 12018
Lot Size (Acres) 0.28
Annual Property Tax 5003
Year Built 1970
Interior
Total # of Bathrooms 2
# Full Baths 2
Total # of Bedrooms 4
Total # of Rooms 10
Laundry Electric Dryer Hookup, Washer Hookup
Flooring Tile, Vinyl
Appliances Range, Microwave, Refrigerator, Washer, Dryer, Dishwasher
Exterior
Foundation Slab
Roof Shingle
Construction Frame
Parking Desc Paved Drive, Off Street, Paved
# Parking Spaces 3
Patio/ Porch Deck
Lot Desc Wooded
Amenities / Utilities
Sewer Public Sewer
Utilities For Electric Range, for Electric Dryer, Washer Hookup
Electricity Circuit Breakers
Water Source Public
Location
County Essex
Community Features Public Transportation, Shopping, Golf, Medical Facility, Laundromat, Highway Access, House Of Worship, Private School, Public School, T-Station
Zoning R2
APN M:040 B:243 L:005, 1992498
Directions Route One To Walnut Street. Left Onto Dungeon Ave.
Multifamily Details
Rent Includes Unit 1(Water), Unit 2(Water)
Net Operating Income 51041
Operating Expense 5359
Total Actual Rent 4700
Financial Data Source Owner
Expense: Water/ Sewer 2200
Gross Income 56400
Lot/ Land Details
Road Frontage Public
Road Responsibility Public Maintained Road
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3/10
Lincoln-Thomson Elementary School
public Grades K-5
Lynn School District
N/A
William R Fallon Elementary School
public Grades 1-5
Lynn School District
4/10
Breed Middle School
public Grades 6-8
Lynn School District
1/10
Fecteau-Leary Junior/Senior High School
public Grades 6-12
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.
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