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1180 Middlesex Street

Leo Montiero Sells Two Multifamily Properties To Shams Iqbal For $2.25M In Lowell MA
SOLDMultiFamily

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

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.

Players

Drew Kirkland

NorthEast Private Client Group

Broker

$94.8M

vol

18 deals

Broker
NorthEast Private Client Group
NorthEast Private Client GroupBrokerage

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