Updated Oct 28, 2024
Zanzibar Capital Acquires Multifamily Property In Lynn, MA For $10.07M
24 Franklin St, Lynn, Massachusetts 01902, United States
$10,070,000
Units
56
Asset Type
MultiFamily
Closing
Jan 27, 2022
About this deal
AI
Located at 24-30 Franklin St in Lynn, MA, this multifamily property was recently sold in a closed transaction. The sale was facilitated by Stephen Girolamo of Horvath & Tremblay, who represented the buyer, Zanzibar Capital. The property consists of 56 units and was sold for a price of $10,070,000, resulting in a price per unit of $179,821.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $10,070,000
- Address: 24-30 Franklin St, Lynn, MA
- Market: Lynn, MA
Zanzibar Capital, represented by Stephen Girolamo of Horvath & Tremblay, purchased this multifamily property in Lynn, MA. The deal involved the sale of 56 units at a price of $10,070,000, resulting in a price per unit of $179,821.
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
1.58%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93