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Fred Miranda & Reyna Cristina Palma Acquire Multifamily Property In Lynn, MA For $735,000

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SOLD
$735,000

Massachusetts

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MultiFamily2,678 SF
Sold 12/14/2021
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Property Image
SOLD

Fred Miranda & Reyna Cristina Palma Acquire Multifamily Property In Lynn, MA For $735,000

14 Larch Road, Lynn, Massachusetts 01904, United States

See Similar Deals
MultiFamily2,678 SF
Sold 12/14/2021
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$274
Total Square Footage:2,678 SF
Transaction Type:Sale

The multifamily property located at 14 Larch Road in Lynn, MA was recently sold in a closed transaction. The property consists of 2 units with a total square footage of 2,678. The sale price was $735,000, resulting in a price per unit of $367,500 and a price per square foot of $274. The property was initially listed for $699,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $735,000
  • Address: 14 Larch Road, Lynn, MA
  • Market: Lynn, MA

The buyers of the property are Fred Miranda and Reyna Cristina Palma, while the sellers are Marc and Kara Crovo. The buyer's representative in this deal was Ricardo Zambrano from Zambrano Prop. & Associates - RE/MAX 360. On the other hand, the seller's representatives were Arthur Martiroso and David Martiroso from DNA Realty Group - Keller Williams Realty.

For any inquiries or further information about this property, Arthur Martiroso can be reached at 617-921-5015, and Ricardo Zambrano can be contacted at 781-521-3491.

Players

Arthur Martiroso
10 deals$11.8M volume
BROKER

David "Dave" Martiroso
Keller Williams Realty
10 deals$11.8M volume
BROKER

Ricardo Zambrano
Re/Max
1 deal$735K volume
BROKER

Details

SOLD
IMAGE: Arthur Martiroso, Ricardo Zambrano & David Martiroso DATE: 12/14/2021 ADDRESS: 14 Larch Road MARKET: Lynn, MA ASSET TYPE: Multifamily BUYER: Fred Miranda & Reyna Cristina Palma SELLER: Marc & Kara Crovo BUYER'S REP: Ricardo Zambrano (@J_R_Zambrano) - Zambrano Prop. & Associates (@Zambrano_Associates_Realtors) - RE/MAX 360 SELLER'S REP: Arthur Martiroso (@Martiroso) & David Martiroso (@DaveMartiroso) - DNA Realty Group (@DNARealtyGroup) - Keller Williams Realty ASKING PRICE: $699,000 SALE PRICE: $735,000 UNITS: 2 ~ PPU: $367,500 SF: 2,678 ~ PPSF: $274 NOTE: Arthur Martiroso: 617-921-5015 Ricardo Zambrano: 781-521-3491

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,611.31
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