Updated Dec 9, 2025
Leo Montiero Sells Two Multifamily Properties To Shams Iqbal For $2.25M In Lowell MA
1180 Middlesex Street & 15 Canton Street
$2,250,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 25, 2025
About this deal
AI
The transaction involved two fully renovated multifamily properties located at 1180 Middlesex Street and 15 Canton Street in Lowell, MA. The properties were sold for $2,250,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,250,000
- Address: 1180 Middlesex Street & 15 Canton Street
- Market: Lowell, MA
- Seller: Leo Montiero
- Buyer: Shams Iqbal
- Brokers: Drew Kirkland, Francis Saenz & Jim Casey
- Agency: NorthEast Private Client Group
This transaction was orchestrated by NPCG, successfully connecting the seller, Leo Montiero, with local buyer Shams Iqbal, facilitating the transfer of ownership for the multifamily assets.
On the Map
$2,250,000
MultiFamily
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Lowell 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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93