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376 Washington Street presents a rare opportunity to acquire a stabilized multifamily asset in the heart of Lynn. The property consists of 46 single room occupancy (SRO) units, supported by newer building systems that reduce near-term capital requirements while enhancing operational efficiency. This rare asset boasts a strong 10% capitalization rate, backed by a long history of high occupancy and reliable cash flow. The property features 46 furnished single-room units with shared kitchen facilities, coin-op laundry, four full bathrooms, and four half bathrooms. Professionally managed and well-maintained, the building has all operations, compliance, and staffing in place, ensuring a seamless ownership transition with minimal oversight. Additionally, the property is situated within a federally designated Opportunity Zone, offering investors the potential for significant tax advantages alongside strong operating performance. Monthly rent is ±$46,516.
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Listing provided by Dan Pouladian, North Shore Realty Advisors
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