376 Washington Street offers a rare chance to acquire a stabilized multifamily asset in the heart of Lynn. The property includes 46 furnished SRO units with shared kitchens, coin-op laundry, four full and four half bathrooms. Supported by newer building systems, it delivers operational efficiency, reduced near-term capital needs, and a strong 10% cap rate with consistent occupancy and reliable cash flow. Professionally managed with staffing and compliance in place, it ensures a seamless transition for new ownership. Located in a federally designated Opportunity Zone, it provides potential tax benefits alongside strong performance. Monthly rent is approximately $46,516, and the seller will consider a buyer’s property in trade for a 1031 exchange.
Listed by Dan Pouladian
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North Shore Realty Advisors
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617-548-7737
Last updated September 26, 2025
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Source: MLSPin #73430774
Listing Facts
TypeMulti-family
NeighborhoodDowntown Lynn
Bedrooms46
Bathrooms8
Days on Prevu37
Taxes$24,415/year
Size10,585 sqft
Price per sqft$293
Amenities
Parking
Location
Mortgage Calculator
Listing History
09/15/2025
Listed by North Shore Realty Advisors
$3,100,000
Property Details for 374-378 Washington St
Exterior
Construction
Roof: Rubber
Stories: 4
Stories Total: 4
Year Built: 1912
Year Built Details: Actual
Measurements
Building Area Total: 10,585
Building Area Units: Square Feet
Lot Size Acres: 0.07
Lot Size Area: 0
Lot Size Square Feet: 2,879
Lot Size Units: Acres
Financial
Residential Income
Gross Income: $558,192.00
Operating Expense: $209,960.00
Taxes
Parcel Number: M:068 B:634 L:008,2003524
Tax Annual Amount: $24,415.00
Tax Assessed Value: $2,356,700.00
Tax Year: 2025
Interior
Measurements
Living Area: 10,585
Living Area Source: Public Record
Rooms
Bathrooms Full: 4
Bathrooms Half: 4
Bathrooms Total Integer: 8
Bedrooms Total: 46
Rooms Total: 46
Parking
Parking
Open Parking: Yes
Parking Features: Paved Drive
Utilities
Equipment
Sewer: Public Sewer
Water Source: Public
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