Lynn, MA–Northeast Private Client Group has announced the exclusive listing of The North Shore Commons, a fully renovated 48-unit residential property located at 69 North Common Street in Downtown Lynn, Massachusetts.
The offering also includes an adjacent 6,202-square-foot vacant lot at 10 Hanover Street, providing additional development potential in a Qualified Opportunity Zone.
Listed for $5.45 million, the three-story, 14,680-square-foot building represents a rare investment opportunity in one of Greater Boston’s fastest-evolving gateway cities. Built in 1905 and recently upgraded with significant capital improvements, the property now operates as a fully furnished single-room occupancy (SRO) community—an increasingly in-demand housing format in high-cost urban markets.
Modernized and Turnkey Investment
The North Shore Commons combines historic charm with modern convenience. Recent renovations include 12 new bathrooms (four per floor), newly designed shared kitchens with granite countertops and custom cabinetry, and a new on-site laundry facility with folding stations. Each of the 48 private rooms is fully furnished, featuring brand-new refrigerators, plasma TVs, and virtual touch security systems.
The property also benefits from ample off-street parking on the adjacent lot, zoned R-5, offering potential for future residential expansion or complementary development.
Prime Location with Easy Access to Boston
Situated across from Lynn Commons, the property offers residents a walkable, transit-accessible lifestyle. Lynn Station on the MBTA Commuter Rail provides direct service to Boston’s North Station and Logan International Airport, making the location ideal for workforce housing and long-term renters seeking affordability and convenience within the Greater Boston area.
Investment Snapshot
- Sale Price: $5,450,000
- Building Size: 14,680 SF
- Lot Size: 6,710 SF (+6,202 SF adjacent lot)
- Units: 48 SROs
- Price per Unit: $113,541
- Current Cap Rate: 7.2%
- Pro Forma Cap Rate: 8.74%
- Average In-Place Rent: $1,040.
Interested and qualified buyers may schedule private tours and request offering details through Northeast Private Client Group.
