$579,900

9-11 Dungeon Ave, Lynn, MA 01905

4 beds |
2 baths |
1,368 sqft

Multi-Family Home
Built in 1970
0.28acre lot
—— car garage
$424/sqft
Listed 3 months ago

Property Description

An excellent opportunity for an investor seeking immediate rental income with value-add potential. Make your own updates with a $ 20,000 credit at closing! $20,000 credit at closing toward rate buydowns, prepaids, and closing costs! Currently generating $4,700/month ($56,400 annually) in rental income, with an approximately 8%+ projected cap rate based on current income and operating expenses. Tenants pay all utilities except water/sewer. All tenants are month-to-month, providing a new owner flexibility with the existing tenancies. Four off-street parking spaces. Both units have their own washer and dryer. The property is currently occupied, livable, and income-generating, but it does need updating. The interior has received fresh paint in several areas, while the exterior would benefit from updated vinyl siding/wrapping. This creates a great value-add opportunity for an investor to improve the property over time and further increase rents. The property has consistently generated extremely strong rental demand and would be perfect for an owner-occupant.

Listing Status:: Active
Date Added:: June 16, 2026
Data Last Updated:: October 5, 2026 at 4:06PM
Listing Office:: The Aland Realty Group LLC : 603-501-0463
Listing Agent:: Forrest Homes Group : 978-239-6418
MLS ID:: 73536785

Appliances: RangeMicrowaveRefrigeratorWasherDryerDishwasher
Laundry: Electric Dryer HookupWasher Hookup
Flooring: TileVinyl
A/C: Window Unit(s)
Heating: Electric
Fireplace: Fireplaces: 0

Parking: Paved DriveOff StreetPavedParking spaces: 3

Roofing: Shingle
General: Frame2Slab

Road/Access: Public
Originating MLS: MLS Property Information Network
County: Essex

Zoning: R2M:040 B:243 L:0051992498

Utilities: for Electric Rangefor Electric DryerWasher HookupCircuit Breakers
Water: Public
Sewer: Public Sewer

Source: MLS Property Information Network
Exclusions: Unit 2 Microwave

This listing courtesy of Forrest Homes Group , The Aland Realty Group LLC

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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