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Gordon Hall Sells Multifamily Asset At 340 Parkland Avenue Lynn For $2.6M With Brokers Dennis Kelleher John Pentore & Stephen Girolamo

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SOLD
$2,600,000

Massachusetts

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MultiFamily8,280 SF
Sold 10/16/2024
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Property Image
SOLD

Gordon Hall Sells Multifamily Asset At 340 Parkland Avenue Lynn For $2.6M With Brokers Dennis Kelleher John Pentore & Stephen Girolamo

340 Parkland Avenue

See Similar Deals
MultiFamily8,280 SF
Sold 10/16/2024
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$314
Total Square Footage:8,280 SF
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 340 Parkland Avenue, Lynn, MA, consisting of 12 units. The sale price for this property was $2,600,000, which translates to a price per unit of $216,666. The total square footage of the property is 8,280, resulting in a price per square foot of $314.

Summary of transaction details:

This transaction was facilitated by the brokers Dennis Kelleher, John Pentore, and Stephen Girolamo, representing the seller, Gordon Hall. They actively coordinated the sale process and negotiations between the involved parties, leading to the completion of this multifamily property transaction.

Players

Dennis Kelleher
95 deals$558.5M volume
BROKER

John Pentore
Horvath & Tremblay
99 deals$577.6M volume
BROKER

Stephen Girolamo
Horvath & Tremblay
99 deals$326.1M volume(781) 776-4014
BROKER

Details

SOLD
IMAGE: Dennis Kelleher, John Pentore & Stephen Girolamo DATE: 10/16/2024 ADDRESS: 340 Parkland Avenue MARKET: Lynn, MA ASSET TYPE: Multifamily SELLER: Gordon Hall BROKERS: Dennis Kelleher, John Pentore (@Juconn) & Stephen Girolamo (@Steveo3215/) - Horvath & Tremblay SALE PRICE: $2,600,000 UNITS: 12 ~ PPU: $216,666 SF: 8,280 ~ PPSF: $314

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$138,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92