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INVESTMENT HIGHLIGHTS
THE ASSET: 26-36 Newhall Street contain a total of forty-three (43) units, consisting of seven (7), 2-Bedroom/1-Bathroom units and thirty-six (36), 1-Bedroom/1-Bathroom units with 27,888 square feet of living area in 37,273 square feet of total gross area on a combined 0.58-acres of land. The Property features an on-site laundry facility and a parking lot with twenty-three spaces. Each unit is separately metered for electricity which the tenants pay directly. The landlord is responsible for common area electric, gas-fired heat and hot water, and domestic water and sewer.
SIGNIFICANT UPSIDE POTENTIAL: In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market.
CONVENIENT LOCATION: The Property is well-located in a densely populated residential neighborhood just east of downtown Lynn, with convenient access to both local and regional transportation, as well as retail amenities around Lynn’s Central Square. The Property is a short walk from Central Square, the primary commercial area in Downtown Lynn that offers convenient access to an array of “downtown” amenities, including retailers, restaurants, entertainment, and public transportation. Additionally, The Property is 0.3-miles from the Central Square commuter rail station with services to Boston’s North Station, and 11 miles from Downtown Boston.
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