137 Franklin Street, Lynn MA 01902
Lynn, MA 01902
$1,950,000
$1,875,000
Est. $11,215/month
About this home
Investors take notice 8.5% Cap Rate! Clean 9-Unit Multi-Family with eight (8) two-bedroom units and one (1) three-bedroom units which all have lead compliance letters in hand. The building has updated electrical with 400amp service, plumbing upgrades, and unit renovations. There is still opportunity to increase rents for future upside in this rare opportunity. This three-story building offers 7,565± square feet of living area and 10,262± square feet of total gross area. The tenants are responsible for their own separately metered heat and electric, as landlord pays hot water and common electric.
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Recently Sold Nearby
Property History
Market Insights
1
Price Changes
3.8%
Price Range
Property Timeline
Pending Sale
Jul 15, 2026
Offer accepted, sale pending
Price Reduced
Jun 27, 2026
$1,875,000
$75,000
(-3.85%)
From $1,950,000 to $1,875,000 (-3.9%)
Listed for Sale
Jun 18, 2026
$1,950,000
Original listing
Agent: Dan Pouladian
Office: North Shore Realty Advisors
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 07/15/2026 | ⏳ Pending Sale | - | - | - | Offer accepted, sale pending |
| 06/27/2026 | ↓ Price Reduced | $1,875,000 | $75,000 | - | From $1,950,000 to $1,875,000 (-3.9%) |
| 06/18/2026 | 🏠 Listed for Sale | $1,950,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $18,413 | $1,777,300 |
Financial Details
Annual Property Tax
$18,413
Tax Year 2026
Assessed Value
$1,777,300
Facts & Features
Home Facts
Type
Residential Income
Style
5+ Family - 5+ Units Up/Down
Year Built
1900
Living Area
7,565 sq ft
Lot Size
0.0000
Bedrooms
19
Full Baths
9
Total Rooms
34
Investment Metrics
Units
9
Unit 1 Rent
$2,500/mo · N
Unit 2 Rent
$2,300/mo · Y
Unit 3 Rent
$2,500/mo · Y
Total Monthly Rent
$7,300/mo
Gross Income
$87,600
Net Operating Income
$87,600
Cap Rate
4.67%
Interior
Heating
None
Cooling
None
Flooring
Vinyl, Varies, Hardwood
Appliances
None
Fireplace
None
Basement
Full, Unfinished
Laundry
None
Features
None
Exterior
Construction
Frame
Architecture
None
Roof
Rubber
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
None
Utilities
Electric
Circuit Breakers
Water
Public
Sewer
Public Sewer
Gas
None
Other
For Gas Range, For Electric Range
Financial
Annual Tax
$18,413
Assessed Value
$1,777,300
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Seller Disclosures
None
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
House Color
Green
Sq Ft Source
Public Record
Documents
None
County
Essex
Total market time (incl. prior listings)
39 days
Property Overview
Property Type
5+ Family - 5+ Units Up/Down
Listing Type
For Sale
Year Built
1900
Bedrooms
19
Full Bathrooms
9
Living Area
7,565 sq ft
Total Rooms
34
Stories
3
Levels
3
Floor Layout
Interactive room guide
Floor Layout
Finished Area
7,565 sq ft above grade
Display Options
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Vinyl, Varies, Hardwood
Appliances:
Interior Features:
Windows:
Insulated Windows
Basement:
Full, Unfinished
Laundry:
Security:
Construction & Materials
Year Built:
1900
Structure Type:
Exterior Materials:
Frame
Roof:
Rubber
Foundation:
Stone
Stories:
3
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Natural Gas
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Corner Lot, Level
Road Surface:
Parking & Garage
Parking Features:
Nearby Schools
School District
Lynn School District local
D
School Safety
2024-25
3.5%
Above Average
3.0%
Suspensions
0.3%
In-School
0.1%
Expulsions
0.4%
Emergency
2.0% below state avg
Elementary Schools
10 schools
B-
KIPP Academy Lynn Charter School
0.5 mi
|
#197 of 346
|
Score: 51.6
Improved 64 spots from last year
-6.6 below state avg
1,637 students
Moderate
High Graduation Rate
Rising School
College Ready Curriculum
Grades K-12
C-
Lynn Vocational Technical Institute
0.6 mi
|
#284 of 346
|
Score: 42.8
Improved 50 spots from last year
-15.5 below state avg
1,584 students
Moderate
Early College Program
Rising School
Career Tech Programs
Grades PK-12
Sacred Heart Elementary School
0.8 mi
Grades PK-08
St. Pius V Elementary School
0.9 mi
Grades PK-08
North Shore Christian School
1.4 mi
Grades PK-08
The Hathaway School
1.6 mi
Grades PK-08
TEAMS Academy at Virginia Barton Center
1.8 mi
Grades PK-12
C-
Cobbet Elementary School
0.3 mi
|
#696 of 824
|
Score: 36.0
Improved 70 spots from last year
-22.3 below state avg
616 students
Less Diverse
Rising School
Grades PK-05
C
Tracy School
0.4 mi
|
#630 of 824
|
Score: 39.3
Dropped 27 spots from last year
-18.9 below state avg
397 students
Less Diverse
Grades K-05
C
Washington Elementary School
0.5 mi
|
#646 of 824
|
Score: 38.4
Improved 125 spots from last year
-19.8 below state avg
453 students
Moderate
Rising School
Grades K-05
Middle Schools
2 schools
C+
Pickering Middle School
1.3 mi
|
#226 of 352
|
Score: 38.6
Improved 81 spots from last year
-19.6 below state avg
583 students
Diverse
Rising School
Grades 06-08
C-
Thurgood Marshall Middle School
1.4 mi
|
#311 of 352
|
Score: 30.5
Improved 40 spots from last year
-27.7 below state avg
1,310 students
Moderate
Rising School
Grades 06-08
High Schools
6 schools
City Arts & Sciences Academy at Fecteau-Leary
0.3 mi
Grades 06-12
St. Mary's High School
0.5 mi
Grades 07-12
B
Fredrick Douglass Collegiate Academy
0.9 mi
|
#12 of 25
|
Score: 33.4
Improved 330 spots from last year
-24.8 below state avg
235 students
Moderate
Early College Program
Rising School
Grades 06-12
B-
Harold Durgin Success Academy
0.3 mi
|
#16 of 25
|
Score: 30.4
Improved 329 spots from last year
-27.8 below state avg
94 students
Diverse
Rising School
Career Tech Programs
Grades 09-12
D
Lynn English High School
0.9 mi
|
#318 of 346
|
Score: 33.5
Improved 37 spots from last year
-24.8 below state avg
2,062 students
Moderate
18 sports
• 1,425 athletes
Early College Program
Rising School
Career Tech Programs
Strong Athletics
Grades 09-12
C-
Classical High School
1.4 mi
|
#302 of 346
|
Score: 37.9
Improved 51 spots from last year
-20.3 below state avg
1,795 students
Moderate
Early College Program
Rising School
Career Tech Programs
Grades 09-12
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Monthly Payment Breakdown
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Property Tax
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Homeowners Insurance
$200
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95% Interest
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Location
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Neighborhood
137 Franklin Street, Lynn MA 01902
Lynn, MA 01902
Listing Information
Listing Agent
Dan Pouladian
Listing Office
North Shore Realty Advisors
Office Phone
617-548-7737
Agent MLS ID
NB115212
Office MLS ID
AN7007
Listing Data Updated
Jul 27, 2026 9:09 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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