Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    121 North Common Street Lynn, MA 1902

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,179,000

    Multifamily rooming house with 13 rented rooms in Lynn.

    Type:Multi-family / 5+ Family - Rooming House
    Property size:
    4,982 SF
    Added:
    Jun 15, 2025
    Days on Market:
    311
    Last Refresh:
    Mar 13 at 3:58 pm

    Property Features for 121 North Common Street

    General Information

    Standard status
    Active
    Size
    4,982 SF
    Property subtype
    Multi-family / 5+ Family - Rooming House

    Building Details

    Year Built
    1890

    We can help!

    Listing Contact
    Kevin Farrar

    Listing agent Kevin Farrar License #9564499

    Listing office Atlantic Coast Homes,Inc

    Listing date Jun 15, 2025

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Atlantic Coast Homes,Inc

    Overview

    Large Multifamily Rooming House

    This multifamily rooming house presents an investment opportunity in a prime location. The property features a total of 14 rooms, with 13 currently rented. There are 3 full bathrooms and 3 half bathrooms, along with large meeting rooms. The building retains its original character, evident in its street presence and ornate interior details. Capital improvements have been made over time. The property includes an elevator and high ceilings. The building has a size of 4982 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lynn
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9592583
    Latitude
    42.4638098

    Nearby Similar for Sale

    • $1,500,000
      19,473 SF

      Summer Street Mixed Use Property

      Multi-tenant commercial building with vacant owner's suite in Lynn.
      723-727 Summer Street, Lynn, MA 01905
      View Details
    • $850,000
      2,844 SF

      Well-Maintained Two-Family Property

      Two-family property in Lynn with upside potential.
      48 Saratoga Street, Lynn, MA 01902
      View Details
    • $900,000
      2,504 SF

      Multifamily Property in Lynn, MA

      Well-maintained multifamily property with recent updates and convenient location.
      215 Western Avenue, Lynn, MA 01904
      View Details
    • $1,500,000
      19,473 SF

      Lynn Mixed-Use Investment Opportunity

      Multi-tenant building with value-add potential in Lynn, MA.
      723 Summer St, Lynn, MA
      View Details
    • $990,000

      Lynn Two-Family Investment Opportunity

      Two-family home in desirable Lynn area with modern features.
      20 Salem St, Lynn, MA 01905
      View Details
    • $749,999

      Spacious Two-Family Home in Lynn

      Well-maintained, vacant two-family home with potential for owner-occupants or investors.
      120-124 Sheridan St, Lynn, MA 01902
      View Details
    • $699,900
      1,662 SF

      Cozy Two-Family Home Near Beaches

      Updated two-family home near Lynn and Swampscott beaches.
      106 Williams Avenue, Lynn, MA 01902
      View Details
    • $1,300,000

      Pristine Multifamily Overlooking Goldfish Pond

      Well-maintained four-family house with pond views and updated amenities.
      11 Parker Ave, Lynn, MA 01902
      View Details
    • $1,299,000

      Renovated Three-Family Home

      Turnkey three-family home, renovated, great for investment or owner-occupied.
      316 Essex St, Lynn, MA 01902
      View Details
    • $785,000
      2,480 SF

      Well-Maintained Two-Family Home

      Two-family home in Pine Hill with in-law suite.
      82 Linwood Street, Lynn, MA 01905
      View Details
    • $949,000
      2,200 SF

      Renovated Duplex with Modern Amenities

      Move-in ready duplex with updated systems, spacious layout, and prime location.
      76-78 Linden Street, Lynn, MA 01905
      View Details
    • $659,000
      1,555 SF

      Well-Maintained Two-Family Property

      Two-family property in Lynn, move-in ready, delivered vacant.
      47 Rockaway Street, Lynn, MA 01902
      View Details

    FAQs

    What type of property is this?
    Apartment building - Multifamily rooming house with 13 rented rooms in Lynn.
    Where is this apartment building located?
    The property is located at 121 North Common Street Lynn, MA.
    What is the asking price?
    The asking price for this property is $1,179,000.
    What are key features of this property?
    This property features: Multi‑family rooming house with 13 rented rooms (14 total).; Prime location.; 6 total bathrooms (3 full, 3 half).
    (978) 777-4444
    We can help!
    Listing Contact
    Kevin Farrar
    Real Estate License ID: 9564499
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!