6-Unit Apartment
For Sale
$1,100,000
Pending
145 N Common, Lynn, MA 01905
Three-story condominium property with five leased residences and one available unit.
Property Size3,938 SF
Days on Market132
Property Features for 145 N Common
General Information
Standard status
Pending
Size
3,938 SF
Property subtype
5-9 Family
Units
Unit Mix
6 x 1BR
Multifamily Units
6
Additional Details
Public Transit
Yes
Building Details
Year Built
1880
Buildings
1
Stories
3
Listing Agency:
Cameron Real Estate Group
(781) 486-3180
Listed By:
Marc Fiore
(339) 203-1109
Source:
Lockandkeyre
Added: Jun 16
Changed: Oct 25
Last Checked: Oct 24 at 6:58PM
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 Cameron Real Estate Group
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Investment Insights
Based on property information with market context.
This three-story apartment property contains six individually deeded condominium units, each configured as a one-bedroom residence. Five units are leased and one is vacant, providing an existing income component alongside near-term occupancy flexibility. The building was constructed in 1880 and contains 3,938 square feet.
The property is positioned across from Lynn Common and near bus stops, with downtown Lynn and commuter rail access nearby. The ocean and Lynn/Nahant beaches are just over one mile away. All six units are held by one owner and offered together, while separate deeds provide flexibility for future ownership structuring or individual disposition. The property is zoned B3.
The property is positioned across from Lynn Common and near bus stops, with downtown Lynn and commuter rail access nearby. The ocean and Lynn/Nahant beaches are just over one mile away. All six units are held by one owner and offered together, while separate deeds provide flexibility for future ownership structuring or individual disposition. The property is zoned B3.
Key Highlights
- Six individually deeded condominium units offered under one ownership
- Six 1‑bed units; five leased and one vacant
- 3,938 SF three‑story building constructed in 1880
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,773
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,375,460
$1.4M
Cap Rate 7%
$982,471
$982.5K
Cap Rate 9%
$764,144
$764.1K
Market Conditions
NOI Build-Up for 3,938 SF
Gross rent
$133.7K $33.96/SF
− Vacancy
−$8.7K −$2.21/SF
EGI
$125.0K $31.75/SF
− OpEx
−$56.3K −$14.29/SF
NOI
$68.8K $17.46/SF
Area
Lynn, MA
Vacancy
6.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,375,460
Cap Rate 7%
$982,471
Cap Rate 9%
$764,144
Alternative Uses
Best Use
Apartment 5plus
$982.5K
$859.7K – $1.15M
NOI $68,773 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,536 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,772
Businesses Nearby
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Business Placement
Demographics for 01905, MA
27,761
Population
9,583
Households
2.9
Avg Household Size
34
Median Age
21%
College-Educated
79%
High-School Grad
3.1 sq mi
ZIP Area
8,955
Density / Sq Mi
$84,341
Median Household Income
$42,983
Median Earnings
$1,749
Median Rent
$443,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story condominium property with five leased residences and one available unit.
Where is this apartment building located?
The property is located at 145 N Common Lynn, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Six individually deeded condominium units offered under one ownership; Six 1‑bed units; five leased and one vacant; 3,938 SF three‑story building constructed in 1880
