Joe Lilly Sells Multifamily Asset In Lynn MA For $3 Million With Brokers Dan Pouladian & Johnathan Wellington
SOLD
$3,000,000
Massachusetts
See Similar DealsMultiFamily10,585 SF
Sold 01/09/2026
SOLD
Joe Lilly Sells Multifamily Asset In Lynn MA For $3 Million With Brokers Dan Pouladian & Johnathan Wellington
374 378 Washington Street
See Similar DealsMultiFamily10,585 SF
Sold 01/09/2026
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$283
Total Square Footage:10,585 SF
Transaction Type:Sale
The property involved in the transaction is a multifamily asset located at 374-378 Washington Street in Lynn, MA. The sale price of the property was $3,000,000. It consists of 46 units and has a total square footage of 10,585. The price per unit stands at $65,217, while the price per square foot is $283.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Units: 46
- Price per Unit: $65,217
- Square Footage: 10,585
- Price per Square Foot: $283
- Seller: Joe Lilly
- Brokers: Dan Pouladian & Johnathan Wellington - Northshore Realty Advisors
- Date of Transaction: 1/9/2026
The deal was facilitated by Dan Pouladian and Johnathan Wellington, who represented the seller, Joe Lilly, in this transaction. Their involvement highlights the collaboration between brokerage professionals to finalize the sale of this multifamily asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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