N
orth Shore Commons – Exclusive Listing

    Northeast Private Client Group lists The North Shore Commons, a 48‑unit SRO at 69 North Common St., Downtown Lynn, MA, plus a 6,202‑sq‑ft vacant lot at 10 Hanover St. in a Qualified Opportunity Zone.

    Priced $5.45 million, the three‑story, 14,680‑sq‑ft building—built 1905 and recently upgraded—operates as a fully furnished single‑room occupancy community, a high‑demand format in urban markets.

    Renovations include 12 new bathrooms, shared granite‑counter kitchens, an on‑site laundry area, and each room furnished with refrigerator, plasma TV, and touch‑screen security. Off‑street parking on the adjacent R‑5 lot allows future expansion.

    Location: across from Lynn Commons, the site offers walkable, transit‑friendly living. Lynn Station on the MBTA Commuter Rail links directly to Boston North Station and Logan Airport, ideal for workforce housing and long‑term renters.

    Investment Snapshot

    • Sale price: $5,450,000

    • Building: 14,680 SF

    • Lot: 6,710 SF (+6,202 SF adjacent)

    • Units: 48 SROs

    • Price/unit: $113,541

    • Current cap rate: 7.2 %

    • Pro‑forma cap rate: 8.74 %

    • Avg. rent: $1,040

    Qualified buyers may arrange private tours and request details through Northeast Private Client Group.