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Trident Management Sells Multifamily Property In Methuen, MA For $11.65M

Property Image
SOLD
$11,650,000
Jim Casey
Francis Saenz
Drew Kirkland
+ 1

Massachusetts

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MultiFamily78,868 SF
Sold 12/12/2019
the dealplayerscompscontact
Property Image
SOLD

Trident Management Sells Multifamily Property In Methuen, MA For $11.65M

134-138 Pelham Street, Methuen, Massachusetts, USA

See Similar Deals
MultiFamily78,868 SF
Sold 12/12/2019
Jim Casey
Francis Saenz
Drew Kirkland
+ 1
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$147
Total Square Footage:78,868 SF
Transaction Type:Sale

134-138 Pelham Street in Methuen, MA was recently sold in a closed transaction. The property is a multifamily asset, offering a total square footage of 78,868. The sale took place on 12/12/2019.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $11,650,000
  • Price per Square Foot: $147
  • Seller: Trident Management
  • Buyer: 2800 Lafayette Road LLC

The sale of 134-138 Pelham Street was facilitated by Bradford Carlson, Drew Kirkland, James Casey, and Francis-Saenz. They represented the respective parties involved in the transaction.

Players

Drew Kirkland
NorthEast Private Client Group
Drew Kirkland
18 deals$94.8M volume(857) 990-6802
BROKER
Francis Saenz
NorthEast Private Client Group
Francis Saenz
15 deals$72.7M volume(857) 990-6803
BROKER
Bradford (Brad) Carlson
NorthEast Private Client Group
Bradford Carlson
6 deals$45.3M volume
BROKER
Jim Casey
NorthEast Private Client Group
Jim Casey
9 deals$54.1M volume
BROKER
TM
Trident Management
SELLER

Details

SOLD
IMAGE: Bradford Carlson, Drew Kirkland, James Casey & Francis-Saenz DATE: 12/12/2019 ADDRESS: 134-138 Pelham Street CITY: Methuen, MA ASSET TYPE: Multifamily SELLER: Trident Management BUYER: 2800 Lafayette Road LLC SALE PRICE: $11,650,000 SF: 78,868 ~ PPSF: $147

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$621,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$41,390.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,226.94
Annual Debt Service$662,723.32