Updated Sep 5, 2024
Legacy Place Apartments In Lawrence, MA Sells For $21.5M With Marcus & Millichap Brokers
112 Marston St Lawrence, MA 01841, USA
$21,500,000
Units
104
Asset Type
MultiFamily
Closing
Jun 27, 2023
About this deal
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.
On the Map
$21,500,000
MultiFamily
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Players
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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