376 Washington Street offers a rare chance to acquire a stabilized multifamily asset in the heart of Lynn. The property includes 46 furnished SRO units with shared kitchens, coin-op laundry, four full and four half bathrooms. Supported by newer building systems, it delivers operational efficiency, reduced near-term capital needs, and a strong 10% cap rate with consistent occupancy and reliable cash flow. Professionally managed with staffing and compliance in place, it ensures a seamless transition for new ownership. Located in a federally designated Opportunity Zone, it provides potential tax benefits alongside strong performance. Monthly rent is approximately $46,516, and the seller will consider a buyer’s property in trade for a 1031 exchange.
| MLS Listing ID: | 73430774 |
|---|---|
| Listing Price: | $3,100,000 |
| Listing Status: | Active [?] |
| Property Type: | Multi Family |
| Bedrooms: | 46 |
| Full Baths: | 4 |
| Half Baths: | 4 |
| Living Space: | 10585 sf. |
| Lot Size: | 0.07 acres (2879 sf.) |
| Parking: | - |
| Taxes: | $24,415.00 |
| Tax Year: | 2025 |
Listing Current as of October 31, 2025 12:00am
This listing brought to you by Dan Pouladian of North Shore Realty Advisors.
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