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A multifamily developer that’s built projects in Boston’s Seaport District, Watertown and Westwood in recent years has acquired a 2-acre site overlooking the Bass River in Beverly for $5.5 million.

Gables Residential acquired three parcels on River and Margin streets including a former bowling alley, restaurant, auto repair shop and parking lot from Bowl-O-Mat Inc. of Beverly on June 6.

The parcels are located two blocks from the Beverly Depot MBTA commuter rail station. A master plan approved in January identified the Bass River area as an opportunity for development, and recommended rezoning the area for by-right approval of multifamily and mixed-use projects. The area also has been designated as a federal Opportunity Zone, providing tax benefits for investors.

Developer Beverly Crossing is constructing a 106-unit, 167,230-square-foot residential building called The Block at Odell Park which is scheduled for completion in December 2022. Boston-based Barnat Development opened a 67-unit apartment complex next to Beverly Depot in 2018.

And at 12 and 16 Congress St., Lynnfield-based Procopio Cos. completed a two-building, 62-unit waterfront apartment complex called Sedna Beverly in late winter.

Atlanta-based Gables Residential completed the 307-unit Gables Seaport tower at 501 Congress St. in March 2020 and earlier developed apartment complexes on Watertown’s Arsenal Street and Westwood’s University Station.

Some multifamily developers have been shifting their acquisition strategies to the suburbs in the past year amid stiff competition from life science projects for sites in Boston and emerging lab markets such as Somerville and Watertown.