Jacob VanMeter Of Re/Max Represents Buyer In $1M Lynn Multifamily Sale
188 Washington Street
$1,000,000
$222/SF
Building Size
4,500 SF
Asset Type
MultiFamily
Closing
Feb 20, 2024
AI
In Lynn, Massachusetts, a multifamily property located at 188 Washington Street has been sold for $1,000,000. The property spans 4,500 square feet with a price per square foot of $222. The buyer, represented by Jacob VanMeter of Re/Max, acquired the property from the seller's representative, Raymond R. Clements ofInvestment Property Advisors.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Address: 188 Washington Street
- Market: Lynn, MA
- Buyer's Rep: Jacob VanMeter - Re/Max
- Seller's Rep: Raymond R. Clements - Investment Property Advisors
Jacob VanMeter of Re/Max facilitated the purchase as the buyer's representative, while Raymond R. Clements of Investment Property Advisors acted as the seller's representative in the transaction.
Players
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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93