Union St

Lynn, MA

Active

Property Highlights

Acquired 24-unit property on Union Street, including a renovated brick building (8 retail, 12 residential) and a wooden building (2 retail, 2 residential).
Current rents below market value due to previous mismanagement.
Strategy: Increase rents to market rates and renovate the exterior of the wooden building to boost property value.

Overview

We have acquired a 24-unit mixed-use property on Union Street, comprising a renovated brick building with 8 retail and 12 residential units, and a wooden building with 2 retail and 2 residential units. The property has been underperforming due to poor management, resulting in rents below market value. Our strategy is straightforward: increase rents to market rates and renovate the exterior of the wooden building to enhance its value. This acquisition offers significant upside potential through these targeted improvements and efficient management.