facebook
Traded Co logo
Submit

Diamond District Prop LLC Acquires Lynn, MA Multifamily For $16.25M

Property Image
SOLD
$16,250,000

Massachusetts

See Similar Deals
MultiFamily48,000 SF
Sold 06/28/2021
the dealplayerscompscontact
Property Image
SOLD

Diamond District Prop LLC Acquires Lynn, MA Multifamily For $16.25M

66 Basset Street, Lynn, Massachusetts 01902, United States

See Similar Deals
MultiFamily48,000 SF
Sold 06/28/2021
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$338
Total Square Footage:48,000 SF
Transaction Type:Sale

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.

Players

Dan Pouladian
Northshore Realty Advisors
Dan Pouladian
67 deals$302.3M volume(617) 548-7737
BROKER

Details

SOLD
IMAGE: Dan Pouladian DATE: 06/28/2021 ADDRESS: 171-175 Ocean Ave & 66 Basset St MARKET: Lynn, MA ASSET TYPE: Multifamily BUYER: Diamond District Prop Llc SELLER: R&j Realty Co Inc BROKER: Dan Pouladian (@DanPouladian) - North Shore Realty Advisors ASKING PRICE: $17,000,000 SALE PRICE: $16,250,000 UNITS: 90 ~ PPU: $180,556 SF: 48,000 ~ PPSF: $339

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$866,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$57,732.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,033.29
Annual Debt Service$924,399.48