Updated Oct 28, 2024
Diamond District Prop LLC Acquires Lynn, MA Multifamily For $16.25M
66 Basset Street, Lynn, Massachusetts 01902, United States
$16,250,000
$338/SF
Building Size
48,000 SF
Asset Type
MultiFamily
Closing
Jun 27, 2021
About this deal
AI
The multifamily property located at 171-175 Ocean Ave & 66 Basset St in Lynn, MA has been sold in a recent transaction. The property spans approximately 48,000 square feet and consists of 90 units. The sale price for this property was $16,250,000, resulting in a price per unit of $180,556 and a price per square foot of $339.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $16,250,000
- Address: 171-175 Ocean Ave & 66 Basset St, Lynn, MA
- Market: Lynn, MA
- Units: 90
- Price per Unit: $180,556
- Square Footage: 48,000
- Price per Square Foot: $339
The buyer of the property was Diamond District Prop Llc, while the seller was R&j Realty Co Inc. The transaction was facilitated by Dan Pouladian from North Shore Realty Advisors.
Lynn 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
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93