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The North Shore Commons 69 N Common St 48 Unit Apartment Building $5,450,000 ($113,542/Unit) 7.20% Cap Rate Lynn, MA 01902
INVESTMENT HIGHLIGHTS
- 48 Single Room Occupancy Units
- Adjacent 6,202 SF Lot
- Ample Off-Street Parking on Adjacent Lot
- Fully Furnished Rooms | Laundry Facility
- Qualified Opportunity Zone | Downtown Lynn
EXECUTIVE SUMMARY
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.
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.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $5,450,000 | Building Class | C |
| Price Per Unit | $113,542 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 38,680 SF |
| Cap Rate | 7.20% | Average Occupancy | 100% |
| No. Units | 48 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1905 |
| Property Subtype | Apartment | Parking Ratio | 0.68/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R5 | ||
| Price | $5,450,000 |
| Price Per Unit | $113,542 |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 38,680 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1905 |
| Parking Ratio | 0.68/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 48 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | LYNN-000053-000722-000028 | Improvements Assessment | $1,806,600 |
| Land Assessment | $1,056,000 | Total Assessment | $2,862,600 |
PROPERTY TAXES
Parcel Number
LYNN-000053-000722-000028
Land Assessment
$1,056,000
Improvements Assessment
$1,806,600
Total Assessment
$2,862,600
CONTACTS
-
Francis Saenz -
James Casey -
Drew Kirkland -
Patrick Wheeler -
Anthony Rakauskas -
Northeast Private Client Group
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The North Shore Commons | 69 N Common St
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