9 Needhams Landing Rd | Lynn, MA 01905
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9 Needhams Landing Rd
Lynn, MA 01905
Needhams Landing Apartments · Build-to-Rent Property For Sale
·
42 Units
INVESTMENT HIGHLIGHTS
- low vacancy
- value-add potential by increasing rents by $50 per unit, which would raise the cap rate to 5.2% at a valuation of $10,750,000
- Assumable government loan at a highly attractive 3.99% fixed rate for the next 28 years—non-recourse, with an approximate balance of $6.2m
PROPERTY FACTS
| No. Units | 42 | Total Plot Size | 0.56 ac |
| Property Type | Build-to-Rent | Property Size | 29,888 sq ft |
| Property Subtype | Apartment | No. Floors | 5 |
| Apartment Style | Mid-Rise | Year Built | 2015 |
| Costar Property Class | C | ||
| Use Class | R4 | ||
| No. Units | 42 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.56 ac |
| Property Size | 29,888 sq ft |
| No. Floors | 5 |
| Year Built | 2015 |
| Use Class | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| Studios | 16 | - | - |
| 1+1 | 13 | - | - |
| 2+1 | 13 | - | - |
PROPERTY TAXES
| Parcel Number | LYNN-000019-000305-000025 | Improvements Assessment | £5,407,750 |
| Land Assessment | £2,631,763 | Total Assessment | £8,039,513 |
PROPERTY TAXES
Parcel Number
LYNN-000019-000305-000025
Land Assessment
£2,631,763
Improvements Assessment
£5,407,750
Total Assessment
£8,039,513
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