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112 Marston St Lawrence, MA...

Legacy Place Apartments In Lawrence, MA Sells For $21.5M With Marcus & Millichap Brokers
SOLDMultiFamily

Legacy Place Apartments In Lawrence, MA Sells For $21.5M With Marcus & Millichap Brokers

112 Marston St Lawrence, MA 01841, USA

$21,500,000

Building Size

Asset Type

MultiFamily

Closing

Jun 27, 2023

AI

The Legacy Place Apartments, located at 112 Marston Street in Lawrence, MA, has been sold in a recent transaction. This multifamily property consists of 104 units and was sold for a total price of $21,500,000, which reflects a per unit price of approximately $206,731. The sale was facilitated by Laurie Ann “L.A.” Drinkwater, Seth J. Richard, and Matthew Pierce of Marcus & Millichap.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $21,500,000
  • Address: 112 Marston Street, Lawrence, MA
  • Market: Lawrence, MA
  • Units: 104
  • Price Per Unit: $206,731

Laurie Ann “L.A.” Drinkwater, Seth J. Richard, and Matthew Pierce from Marcus & Millichap played an instrumental role in marketing and securing the sale of Legacy Place Apartments. Situated near Highway 495, this property offers convenient access to major transportation routes and amenities.

Players

Laurie Ann Drinkwater

Marcus & Millichap

Broker

$75M

vol

13 deals

Broker

Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.74%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93