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188 Washington Street

Jacob VanMeter Of Re/Max Represents Buyer In $1M Lynn Multifamily Sale
SOLDMultiFamily

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

Jacob VanMeter

Re/Max

Broker

$2.4M

vol

2 deals

Broker

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