69 N Common St - Apartments FOR SALE


Lynn, MA 01902- North Suburbs-Essex
$5,450,000 USD
203-414-9232
69 N Common St, Lynn, MA for Sale
$5,450,000 USD
Apartments - FOR SALE
1/10
null | 7.2% Cap Rate

69 N Common St
Lynn, MA 01902
North Suburbs-Essex


HIGHLIGHTS

  • 48 Single Room Occupancy Units
  • Fully Furnished Rooms | Laundry Facility
  • Adjacent 6,202 SF Lot
  • Qualified Opportunity Zone | Downtown Lynn
  • Ample Off-Street Parking on Adjacent Lot

OVERVIEW

Northeast Private Client Group® is pleased to present The North Shore Commons at 69 N Common Street and 10 Hanover Street in Lynn, MA. This three-story, 14,680-square-foot building, built in 1905, has been recently renovated and has received significant capex. It consists of 48 fully furnished single-room occupancy units (SROs) and a 6,202-square-foot adjacent vacant lot, zoned R-5 in the rear (10 Hanover St). There are 12 new bathrooms, four on each floor. Newly added common kitchens with cabinets and granite countertops. New laundry facility & folding stations on site. The rooms include brand-new refrigerators, plasma TVs, and virtual touch security. Desirable Lynn Commons location. Easy access to Boston and Logan International Airport via Lynn Station Commuter Rail stop. All interested and qualified parties can tour the property during scheduled appointments and obtain additional information upon request.

FOR SALE DETAILS

PRICE

$5,450,000 USD

PRICE/SF

$141 USD /SF

# OF UNITS

48

PRICE/UNIT

$113,542

CAP RATE

7.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The North Shore Commons

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1905

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,710 SF

ZONING

R5

APN/PARCEL ID

LYNN-000053-000722-000028

ASK ABOUT THIS PROPERTY

Francis SaenzNortheast Private Client GroupMore Info
203-414-9232

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Francis SaenzNortheast Private Client GroupMore Info
203-414-9232

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.