The Ocean Avenue Portfolio (32-34 & 40 Ocean Avenue) offers investors oceanfront properties with great views of Lynn Beach, Nahant and Boston. 32-34 Ocean Avenue is a 3-story residential building with rentable square footage of 3,861 and a total gross square footage of 6...
This home has been viewed 57 times
Last Checked: July 15th, 2025 at 7:38am (Source: MLS PIN #73151418)
Gross Income: $74,400
Gross Expenses: $98,235
Net Income Calc: $23,835
CAP Rate: -0.96%
Water Views
Annual Expenses for 32-34-40 Ocean Avenue, Lynn MA 01902
Total Gross Expenses (Calculated)$98,235/year
APOD AvailableYes
Heating
Electricity$7,546
Water$8,588
Gas$8,588
Insurance$12,998
Sewer$8,588
Trash Removal$3,300
Repair & Maintenance$5,500
Management$10,275
Miscellaneous
Real Estate Tax$25,322
Annual Income & Unit Breakdown for 32-34-40 Ocean Avenue, Lynn MA 01902
Total Gross Income (Calculated)$74,400
Unit 1
Rental Income$1,300
LeaseN
Bedrooms1
Bathrooms1 Full
Floor1
Levels in Unit1
HeatingNo
Rent Includes
Unit 2
Rental Income$1,400
LeaseN
Bedrooms2
Bathrooms1 Full, 1 Half
Floor1
Levels in Unit1
HeatingNo
Rent Includes
Unit 3
Rental Income$1,500
LeaseN
Bedrooms2
Bathrooms2 Full
Floor2
Levels in Unit1
HeatingNo
Rent Includes
Unit 4
Rental Income$2,000
LeaseN
Bedrooms2
Bathrooms1 Full, 1 Half
Floor3
Levels in Unit1
HeatingNo
Rent Includes
General Information for 32-34-40 Ocean Avenue, Lynn MA 01902
Listing ID73151418
Property TypeMulti Family / 5+ Family
Price$2,475,000 ($200.68/SqFt)
Style5-9 Family
CityLynn
CountyEssex
MLS AreaDiamond District
Neighborhood(s)
Approximate Living Area Total12,333 SqFt
Approximate Lot Size (Acres)0.17 acres
Total Parking11
Garage Parking
Year Built1900
Year Built SourcePublic Records
Year Renovated
Year Built DetailsApproximate
Water
Sewer
Electric
Hot Water
Roof Material
Basement
Construction Materials
Lot Features
Foundation Area9999
Foundation DescriptionStone,Brick/Mortar
Accessible Features
Outdoor Space
ZoningR2
Zoning Details
Water ViewsYes
Water Views Features
WaterfrontNo
Waterfront FeaturesOcean, Beach Ownership(public), 0 To 1/10 Mile To Beach
Energy Features
Terms
Disclosures for 32-34-40 Ocean Avenue, Lynn MA 01902
Lead Paint
UFFI
Living Area Includes BasementNo
Living Area Disclosure
Building Area SourcePublic Records
Title 5
Exclusions
Disclosures
Financial Data SourceOwner
Total Gross Expenses By Broker$98,236
Total Gross Income By Broker$205,495
Total Net Income By Broker$107,259
For Sale By OwnerNo
Short Sale / Forclosure (Bank Owned)
Buyer Agent Compensation1.75
Facilitator Compensation
Sub-Agent Compensation
Compensation Based OnNet Sale Price
Financial Information for 32-34-40 Ocean Avenue, Lynn MA 01902
Real Estate Taxes$25,322
Tax Year2023
Assessed Value$2,271,100
Financial Data SourceOwner
Total Gross Expenses By Broker$98,236
BostonRealEstate.com Gross Expenses
Total Gross Income By Broker$205,495
BostonRealEstate.com Gross Income
Total Net Income By Broker$107,259
BostonRealEstate.com Gross NOI
CAP Rate (based on Broker info)
CAP Rate (BostonRealEstate.com)-0.96%
Location Information for 32-34-40 Ocean Avenue, Lynn MA 01902
Elementary School
Middle School
High School
Neighborhood(s)
MLS AreaDiamond District
Area AmenitiesWalk/jog Trails, Highway Access, Shopping, Park, Bike Path, Public Transportation, T-station
Contact Information for 32-34-40 Ocean Avenue, Lynn MA 01902