INNOVATE Real Estate
Residential at 71-75 Common St, Lawrence MA 01840, Lawrence
Residential at 71-75 Common St, Lawrence MA 01840, Lawrence, photo 2 of 6
Residential at 71-75 Common St, Lawrence MA 01840, Lawrence, photo 3 of 6
Residential at 71-75 Common St, Lawrence MA 01840, Lawrence, photo 4 of 6
Residential at 71-75 Common St, Lawrence MA 01840, Lawrence, photo 5 of 6
Residential at 71-75 Common St, Lawrence MA 01840, Lawrence, photo 6 of 6
6 photos

$2,975,000

71-75 Common St, Lawrence MA 01840
Lawrence, MA 01840
Listed by Johan Lopez
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
N/A

About this home

Fully Approved 60-Unit Residential Site with $2.5M HDIP Tax Credit. Maximize your portfolio returns with the ICONO Tower Development, a premier, fully permitted multifamily opportunity in downtown Lawrence, MA. Located at 71–75 Common Street and 37 Newbury Street, this shovel-ready project is approved for 60 market-rate apartments sitting over a 55-car structured garage. Investors gain an immediate financial edge with an awarded $2.5 million Housing Development Incentive Program (HDIP) tax credit spanning 2025–2027. Capitalize on the Merrimack Valley's rapid growth with a project backed by strong local demand and local government incentives.

Highlights

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Property details

MLS #
73528771
Property type
Residential
Subdivision
N/A
Status
Active
Days on market
127
On market date
June 3, 2026
Stories
N/A
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
0.56 acres

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).

Elementary
Oliver Partnership School
0.3 mi away · Grades 1-5
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
461
Student:teacher ratio
12.8:1
District
Lawrence
Middle
UP Academy Leonard Middle School
0.2 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
340
Student:teacher ratio
12.6:1
District
Lawrence
HighCharter
Phoenix Academy Public Charter High School Lawrence
0.12 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
138
Student:teacher ratio
12.5:1
District
Phoenix Academy Public Charter High School Lawrence (Distric

Walkability

Blended score for Lawrence's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

93
Highly walkable
out of 100
EPA National Walkability Index
17.5 / 20 -- Most walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores20
Parks20
Schools20
Transit stops20
Pharmacies9

Market position

How this listing compares to current activity in Lawrence, from live MLS data.

On the market 127 days -- 18 more days than Lawrence's current average of 109 days.
For reference, the median list price across 230 active listings in Lawrence right now is $90,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$18,066/mo
$595,000 down
$2,380,000 loan
Principal & interest$15,437
Property tax (est.)$2,479
Home insurance (est.)$150

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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated June 7, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.