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INVESTMENT HIGHLIGHTS
THE ASSET: 119 Lewis Street is a three-story, brick-building containing twenty-four (24) total units, consisting of twenty-one (21) 1-Bedroom/1-Bathroom units and three (3) two-room Studio units with 12,765 square feet of living area in 17,029 square feet of gross area on a 0.289-acre parcel. Each unit is separately metered for electricity, which the tenants pay directly. There is a coin-op laundry room on-site for tenants.
RECENT CAPITAL IMPROVEMENTS: Over the last several years, the current ownership has renovated hallways and common areas, and installed a new rubber roof, and new windows.
DOWNTOWN LOCATION: 119 Lewis Street is well-located in a densely populated residential neighborhood adjacent to downtown Lynn, with convenient access to both local and regional transportation, as well as retail amenities around Lynn’s Central Square. The Property is situated just outside of Central Square, the primary commercial area in Downtown Lynn that offers convenient access to an array of “downtown” amenities, including retail, restaurants, entertainment and public transportation. Additionally, Lewis Street is just 0.8 miles from the Central Square commuter rail station, with service to Boston’s North Station, and 11 miles from Downtown Boston.
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