Overview Property Details Payment Calculator Walkability

Add to favorites

Remove from favorites
Send to Friend
Watch changes on this property

Canceled

423-427 Union St, Lynn MA 01901

$495,000

Estimated $1,054.39/month Calculator

Multi Family

Total Units: 4

Price Per Unit: $123,750

Total Rent: 15600/year

Estimated CAP Rate: 1.76%

0 Bedrooms

4 Half Baths

1,462 SqFt

Total Parking: 0

832 SqFt

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.

This home has been viewed 38 times

Last Checked: August 25th, 2025 at 4:28am (Source: MLS PIN #73395332)

Gross Income: $15,600

Gross Expenses: $6,892

Net Income Calc: $8,708

CAP Rate: 1.76%

Annual Expenses for 423-427 Union St, Lynn MA 01901

Total Gross Expenses (Calculated)$6,892/year

APOD AvailableNo

Heating

Electricity

Water$800

Gas$800

Insurance$3,071

Sewer$800

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$3,021

Annual Income & Unit Breakdown for 423-427 Union St, Lynn MA 01901

Total Gross Income (Calculated)$15,600

Unit 1

Rental Income$1,000

LeaseN

Bedrooms0

Bathrooms1 Half

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 2

Rental Income$300

LeaseN

Bedrooms0

Bathrooms1 Half

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 3

Rental Income$0

Lease

Bedrooms0

Bathrooms1 Half

Floor2

Levels in Unit1

HeatingNo

Rent Includes

Unit 4

Rental Income$0

Lease

Bedrooms0

Bathrooms1 Half

Floor2

Levels in Unit1

HeatingNo

Rent Includes

General Information for 423-427 Union St, Lynn MA 01901

Listing ID73395332

Property TypeMulti Family / 3 Family

Price$495,000 ($338.58/SqFt)

Style3 Family

CityLynn

CountyEssex

MLS Area

Neighborhood(s)

Approximate Living Area Total1,462 SqFt

Approximate Lot Size (Acres)0.02 acres

Total Parking0

Garage Parking

Year Built1913

Year Built SourcePublic Records

Year Renovated

Year Built DetailsActual

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsBrick

Lot FeaturesOther

Foundation Area

Foundation DescriptionOther

Accessible Features

Outdoor Space

ZoningCBD

Zoning Details

Water Views

Water Views Features

WaterfrontNo

Waterfront FeaturesBay, Ocean, Beach Ownership(public), 1/2 To 1 Mile To Beach

Energy Features

Terms

Disclosures for 423-427 Union St, Lynn MA 01901

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data Source

Total Gross Expenses By Broker$3,871

Total Gross Income By Broker$15,600

Total Net Income By Broker$11,729

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation

Facilitator Compensation

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 423-427 Union St, Lynn MA 01901

Real Estate Taxes$3,021

Tax Year2025

Assessed Value$152,100

Financial Data Source

Total Gross Expenses By Broker$3,871

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$15,600

BostonRealEstate.com Gross Income

Total Net Income By Broker$11,729

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)1.76%

Location Information for 423-427 Union St, Lynn MA 01901

Elementary School

Middle School

High School

Neighborhood(s)

MLS Area

Area AmenitiesShopping, Medical Facility, Public Transportation, T-station

Contact Information for 423-427 Union St, Lynn MA 01901

Agent

Name: Chris McNamara

Office

Name: McNamara Realty, Inc.

Phone: 617-605-1201

Payment Calculator

, Interest

Property Taxes 251.75

Principal & Interest 3050.03

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

McNamara Realty, Inc.

Chris McNamara

Agent Phone

Office Phone

(617) 605-1201

Text Agent Call Agent Call Office

Array
(
    [acres] => Approx. 0.02 acres (832 SqFt)
    [add_date] => 2025-06-24 09:08:20
    [address] => Union St
    [agent] => Array
        (
            [address] => 21 Revere Brach Blvd #619
            [city] => Revere
            [id] => CN217517
            [name] => Chris McNamara
            [national_association] => 454007940
            [office] => AN6977
            [state] => MA
            [zip] => 02151
        )

[apod_available] => Array
        (
            [0] => No
        )

[appliances] => Array
        (
        )

[approx_living_area_total] => 1,462 SqFt
    [approx_lot_size_acres] => 0.02 acres
    [approx_lot_size_sqft] => 832 SqFt
    [assessed_value] => $152,100
    [association] => No
    [association_fee] => Array
        (
            [0] => $0
        )

[association_fee_frequency] => Array
        (
        )

[association_fee_includes] => Array
        (
        )

[association_required] => Array
        (
        )

[available_date] => 
    [available_now] => Yes
    [basement] => Array
        (
        )

[bathrooms] => 4 Half
    [bedrooms] => 0
    [building_amenities] => Array
        (
        )

[building_area_source] => Array
        (
            [0] => Public Records
        )

[building_management] => Array
        (
        )

[building_debug] => 423-427 Union St Lynn
    [building_id] => 
    [building_name] => 
    [building_name_from_address] => 
    [building_url] => 
    [buyer_agent_compensation] => 
    [buyer_agent_id] => 
    [buyer_office_id] => 
    [c_style] => Array
        (
            [0] => 3 Family
        )

[c_type] => Multi Family
    [cap_rate] => 1.76%
    [city] => Lynn
    [community_features] => Array
        (
            [0] => Shopping
            [1] => Medical Facility
            [2] => Public Transportation
            [3] => T-station
        )

[compensation_based_on] => Array
        (
            [0] => Net Sale Price
        )

[complex_complete] => Array
        (
        )

[construction_materials] => Array
        (
            [0] => Brick
        )

[construction_status] => 
    [cooling] => No
    [cooperating_agent_commission] => Array
        (
        )

[county] => Essex
    [cultivation_acres] => None
    [date_available_note] => 
    [deposit_amount] => Array
        (
            [0] => $0
        )

[deposit_required] => Array
        (
        )

[deqe] => 
    [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.
    [disclosures] => 
    [documents_available] => Array
        (
        )

[electric] => Array
        (
        )

[electric_expense] => Array
        (
            [0] => $0
        )

[elementary_school] => 
    [en_suite_bath] => Array
        (
            [0] => Yes
        )

[energy_features] => Array
        (
        )

[entry_level] => Array
        (
        )

[estimated_monthly_payment] => 
    [exclusions] => Array
        (
        )

[exterior_features] => Array
        (
        )

[facilitator_compensation] => 
    [fee_paid_by_tennant] => Contact Agent
    [financial_data_source] => Array
        (
        )

[fireplaces] => Array
        (
            [0] => 0
        )

[first_month_required] => Array
        (
        )

[floor_number] => 0
    [flooring] => Array
        (
        )

[for_sale_by_owner] => No
    [foundation_area] => 
    [foundation_materials] => Array
        (
            [0] => Other
        )

[frontage_length] => 
    [full_baths] => 0
    [garage_parking] => 
    [gas] => Array
        (
        )

[gas_expense] => Array
        (
            [0] => $800
        )

[gross_income] => Array
        (
            [0] => $15,600
        )

[half_baths] => 4
    [handicap_access] => No
    [heating] => No
    [heating_expense] => Array
        (
            [0] => $0
        )

[high_school] => 
    [horse_features] => Array
        (
            [0] => Bay
            [1] => Ocean
            [2] => Beach Ownership(public)
            [3] => 1/2 To 1 Mile To Beach
        )

[horse_permitted] => No
    [hot_water] => Array
        (
        )

[id] => 647927
    [insurance_expense] => Array
        (
            [0] => $3,071
        )

[insurance_required] => Array
        (
        )

[interior_features] => Array
        (
        )

[last_month_required] => Array
        (
        )

[last_sync_date] => 2025-08-25 04:28:55
    [laundry_features] => Array
        (
        )

[lead_paint] => Array
        (
        )

[lease_term] => 
    [levels_in_unit] => 4
    [living_area] => 1,462 Sq. Ft.
    [living_area_disclosure] => Array
        (
        )

[living_area_includes_basement] => Array
        (
            [0] => No
        )

[lot_features] => Array
        (
            [0] => Other
        )

[management_expense] => Array
        (
            [0] => $0
        )

[middle_school] => 
    [miscellaneuos_expense] => Array
        (
            [0] => $0
        )

[mls_area] => 
    [mls_id] => 73395332
    [neighborhoods] => Array
        (
        )

[net_income_calc] => 8708
    [net_operating_income] => Array
        (
            [0] => $11,729
        )

[number_of_lots] => Array
        (
        )

[number_of_units] => 4
    [office] => Array
        (
            [id] => AN6977
            [name] => McNamara Realty, Inc.
            [phone] => 617-605-1201
        )

[operating_expense] => Array
        (
            [0] => $3,871
        )

[optional_fee_includes] => Array
        (
        )

[optional_price] => 0
    [outdoor_space_available] => Array
        (
        )

[owner_occupancy_source] => 
    [parking_features] => Array
        (
        )

[pasture_area] => None
    [patio_and_porch] => Array
        (
        )

[perc_test] => Array
        (
        )

[perc_test_date] => Unknown
    [pet_policy] => Array
        (
        )

[phone] => 617-605-1201
    [pool_features] => Array
        (
        )

[price] => $495,000
    [price_per_sqft] => 338.58
    [price_per_unit] => 123750
    [private_pool] => No
    [property_sub_type] => Array
        (
            [0] => 3 Family
        )

[real_estate_tax] => $3,021
    [references_required] => Array
        (
        )

[rent_includes] => Array
        (
        )

[repair_maintenance_expense] => Array
        (
            [0] => $0
        )

[road_frontage_type] => Array
        (
        )

[roof_material] => Array
        (
        )

[rooms] => 8
    [senior_community] => No
    [sewer] => Array
        (
        )

[sewer_expense] => Array
        (
            [0] => $800
        )

[short_sale] => 
    [special_listing_conditions] => Array
        (
        )

[state] => Massachusetts
    [state_code] => MA
    [status] => Array
        (
            [0] => Canceled
        )

[street_number] => 423-427
    [structure_type] => Array
        (
        )

[style] => Array
        (
        )

[subagent_compensation] => 
    [tag_accessible_features] => 
    [tag_air_conditioning] => 
    [tag_association_pool] => 
    [tag_beach_access] => 
    [tag_beach_front] => 
    [tag_elevator] => 
    [tag_equestrian] => 
    [tag_garage_parking] => 
    [tag_generator] => 
    [tag_green_features] => 
    [tag_laundry] => 
    [tag_lead_paint_free] => 
    [tag_loft] => 
    [tag_pet_friendly] => 
    [tag_pre_construction] => 
    [tag_private_outdoor_space] => 
    [tag_private_pool] => 
    [tag_professional_management] => 
    [tag_recently_renovated] => 
    [tag_senior_community] => 
    [tag_townhouse] => 
    [tag_waterfront] => 
    [tag_waterview] => 
    [tax_year] => 2025
    [team] => Array
        (
        )

[terms] => Array
        (
        )

[timber_acres] => None
    [title_5] => 
    [total_gross_expense] => 6892
    [total_gross_income] => 15600
    [total_parking] => 0
    [trash_expense] => Array
        (
            [0] => $0
        )

[uffi] => Array
        (
        )

[unit_1_bathrooms] => 1 Half
    [unit_1_bedrooms] => 0
    [unit_1_floor] => 1
    [unit_1_lease] => Array
        (
            [0] => N
        )

[unit_1_levels] => 1
    [unit_1_rent] => Array
        (
            [0] => 1000
        )

[unit_2_bathrooms] => 1 Half
    [unit_2_bedrooms] => 0
    [unit_2_floor] => 1
    [unit_2_lease] => Array
        (
            [0] => N
        )

[unit_2_levels] => 1
    [unit_2_rent] => Array
        (
            [0] => 300
        )

[unit_3_bathrooms] => 1 Half
    [unit_3_bedrooms] => 0
    [unit_3_floor] => 2
    [unit_3_lease] => Array
        (
        )

[unit_3_levels] => 1
    [unit_3_rent] => Array
        (
        )

[unit_4_bathrooms] => 1 Half
    [unit_4_bedrooms] => 0
    [unit_4_floor] => 2
    [unit_4_lease] => Array
        (
        )

[unit_4_levels] => 1
    [unit_4_rent] => Array
        (
        )

[unit_level] => 
    [unit_number] => 
    [units_owner_occupied] => 
    [unparsed] => Array
        (
            [0] => 423-427 Union St, Lynn MA 01901
        )

[utilities] => Array
        (
        )

[view] => Array
        (
        )

[water] => Array
        (
        )

[water_expense] => Array
        (
            [0] => $800
        )

[water_views] => Array
        (
        )

[water_views_features] => Array
        (
        )

[waterfront] => No
    [waterfront_features] => Array
        (
            [0] => Bay
            [1] => Ocean
            [2] => Beach Ownership(public)
            [3] => 1/2 To 1 Mile To Beach
        )

[year_built] => 1913
    [year_built_details] => Actual
    [year_built_source] => Public Records
    [year_renovated] => 
    [zip] => 01901
    [zoning] => CBD
    [zoning_details] => 
    [media] => Array
        (
            [0] => Array
                (
                    [id] => 143847036
                    [name] => MLS1.jpg
                    [type] => gallery
                    [category] => image
                    [url] => https://www.bostonrealestate.com/wp-content/uploads/WPL/647927/MLS1.jpg
                    [index] => 1
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:56
                    [modified] => 2025-08-25 04:28:56
                )

[1] => Array
                (
                    [id] => 143847160
                    [name] => MLS2.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=2
                    [index] => 2
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[2] => Array
                (
                    [id] => 143847161
                    [name] => MLS3.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=3
                    [index] => 3
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[3] => Array
                (
                    [id] => 143847162
                    [name] => MLS4.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=4
                    [index] => 4
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[4] => Array
                (
                    [id] => 143847163
                    [name] => MLS5.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=5
                    [index] => 5
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[5] => Array
                (
                    [id] => 143847164
                    [name] => MLS6.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=6
                    [index] => 6
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[6] => Array
                (
                    [id] => 143847165
                    [name] => MLS7.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=7
                    [index] => 7
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[7] => Array
                (
                    [id] => 143847166
                    [name] => MLS8.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=8
                    [index] => 8
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[8] => Array
                (
                    [id] => 143847167
                    [name] => MLS9.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=9
                    [index] => 9
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[9] => Array
                (
                    [id] => 143847168
                    [name] => MLS10.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=10
                    [index] => 10
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[10] => Array
                (
                    [id] => 143847169
                    [name] => MLS11.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=11
                    [index] => 11
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[11] => Array
                (
                    [id] => 143847170
                    [name] => MLS12.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=12
                    [index] => 12
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[12] => Array
                (
                    [id] => 143847171
                    [name] => MLS13.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=13
                    [index] => 13
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[13] => Array
                (
                    [id] => 143847172
                    [name] => MLS14.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=14
                    [index] => 14
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[14] => Array
                (
                    [id] => 143847173
                    [name] => MLS15.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=15
                    [index] => 15
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

[15] => Array
                (
                    [id] => 143847174
                    [name] => MLS16.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73395332&w=1024&h=768&n=16
                    [index] => 16
                    [enabled] => 1
                    [created] => 2025-08-25 04:28:57
                    [modified] => 2025-08-25 04:28:57
                )

)

)

EXIT

Canceled

423-427 Union St, Lynn MA 01901

$495,000

Annual Expenses for 423-427 Union St, Lynn MA 01901

Annual Income & Unit Breakdown for 423-427 Union St, Lynn MA 01901

General Information for 423-427 Union St, Lynn MA 01901

Disclosures for 423-427 Union St, Lynn MA 01901

Financial Information for 423-427 Union St, Lynn MA 01901

Location Information for 423-427 Union St, Lynn MA 01901

Contact Information for 423-427 Union St, Lynn MA 01901

Agent

Office

Payment Calculator

Exclusive Listing Agent

McNamara Realty, Inc.

Chris McNamara