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$ 495,000
Est. payment /mo
New
423-427 Union St Lynn, MA 01901
2 Baths
1,462 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 3 Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,462 sqft
Price per Sqft $338
MLS Listing ID 73395332
Half Baths 4
Year Built 1913
Annual Tax Amount $3,021
Tax Year 2025
Lot Size 871 Sqft
Acres 0.02
Property Sub-Type 3 Family
Property Description
Great opportunity to own and invest in Downtown Lynn. Located one block away from Lynn Station commuter rail stop. Prime spot for an owner occupant with either an office or apartment upstairs, and income-producing commercial tenants downstairs. Currently two retail units on the first floor, and office spaces in need of repairs on the second. The property is in the "Central Business District" zoning area, which is intended to support mixed-use development. Allows up to 10 stories by right, with opportunity for residential units atop ground-level commercial. Especially with close proximity to transit, an investment offers potential for maximum density and income, with a more streamlined approval process. Included in photos are initial architectural mock-ups of a 5-story building made up of two commercial units on the first floor (or one larger unit), and five residential units above consisting of three 2-BR apartments and two studios. These are not approved plans, just drawings.
Location
State MA
County Essex
Zoning CBD
Direction Downtown Lynn, on Union St between Washington St & Central Sq
Rooms
Basement Unfinished
Exterior
Community Features Public Transportation, Shopping, Medical Facility, T-Station
Waterfront Description Bay,Ocean,1/2 to 1 Mile To Beach,Beach Ownership(Public)
Roof Type Rubber
Garage No
Building
Lot Description Other
Story 4
Foundation Other
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by McNamara Realty, Inc.