Israel Reyes Of Hancock Realty Group Acquires Multifamily Property In Lowell, MA For $4.2M
SOLD
$4,200,000
Massachusetts
See Similar DealsMultiFamily9,621 SF
Sold 11/16/2021
SOLD
Israel Reyes Of Hancock Realty Group Acquires Multifamily Property In Lowell, MA For $4.2M
122 11th St, Lowell, Massachusetts, USA
See Similar DealsMultiFamily9,621 SF
Sold 11/16/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$436
Total Square Footage:9,621 SF
Transaction Type:Sale
A multifamily property located at 122 11th St in Lowell, MA has been sold for a price of $4,200,000. The property spans approximately 9,621 square feet, resulting in a price per square foot of $437.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Date: 11/16/2021
- Address: 122 11th St
- Market: Lowell, MA
The buyer was represented by Israel Reyes from Hancock Realty Group LLC, while the seller was represented by Patrick Hermans from J. Borstell Real Estate, Inc.
Patrick Hermans & Israel Reyes were the respective buyer's and seller's representatives involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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