Colliers International is pleased to present for sale Needham’s Landing, a 42-unit recently constructed luxury apartment community located on the Little River in Lynn, MA. The waterfront property is 100% market-rate and contains an ideal mix of studio, 1 bedroom, and 2 bedroom units. These luxury residences feature granite stainless steel appliances, hardwood floors, balconies, and central air. In addition, the property offers residents on-site parking at a 1:1 ratio, stone patio with grills, game room, and on-site storage units. An additional unit was permitted in the former storage building which should bring additional income to the property.
Needham’s Landing is well-positioned between two large employment bases, General Electric and the new Encore Boston Harbor Hotel and Casino (estimated to bring thousands of new jobs). The property is within walking distance of MBTA buses and the GE RiverWorks campus, as well as the MBTA Commuter Rail and Route 107.
Needhams Landing is available on an un-priced basis. Additional due diligence materials are available for qualified buyers. We will be conducting tours in the coming weeks with a call for offers to follow.
UNIT MIX CHART
Luxury New Construction
Constructed in 2016, Needhams Landing offers generational construction quality. Residents benefit from a diverse unit-mix and luxury finishes, including in-unit washer/dryers, waterfront views, and central A/C. Community amenities include 1:1 parking ratio, on-site storage units, and outdoor lounge/BBQ area.
Lack Of New Supply
With limited new development, Lynn has little to no newly constructed apartment buildings for rent. The majority of existing rental inventory consists of older inefficient product with limited to no amenities. The Needham’s Landing apartments are the newest and only luxury product in Lynn, and offer its residents a quality of amenities that are best in class. With new product in this submarket achieving north of $3.00/SF, one can capitalize on this supply constrained market.
The Inner Suburb Effect
The inner suburbs surrounding Boston and Cambridge are rapidly changing, and they are closer than you may think. Cities like Chelsea, Everett, and Lynn have attracted the attention of developers and investors, as these are affordable alternatives to Boston and cater to a much larger renter pool. The renter pool that can afford $3.00/SF or less is far deeper than that of the $4.00-$5.00/SF range.
Needhams Landing is located directly on Little River, within walking distance of MBTA buses, GE RiverWorks campus, and is only minutes from the commuter rail and Route 107. The property’s accessibility provides residents with easy access to major employers in the Greater Boston area.
to GE Riverworks
to Logan Airport
to Nahant Beach
Multi-Family Investment Sales
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160 Federal Street, Boston MA, 02110 | Phone 617 330 8000 | Fax 617 330 8127 | colliers.com