Richard M. Powers Acquires Lynn Multifamily For $2M
SOLD
$2,000,000
Massachusetts
See Similar DealsMultiFamily9,630 SF
Sold 12/30/2021
SOLD
Richard M. Powers Acquires Lynn Multifamily For $2M
413 Boston Street, Lynn, Massachusetts 01905, United States
See Similar DealsMultiFamily9,630 SF
Sold 12/30/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$207
Total Square Footage:9,630 SF
Transaction Type:Sale
A multifamily property located at 413 & 8 Boston St in Lynn, MA has been sold for a price of $2,000,000. The property spans a total of 9,630 square feet, resulting in a price per square foot of $208. The sale took place on December 30, 2021. The transaction was facilitated by broker Richard M. Powers from Toner Real Estate, Llc.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 413 & 8 Boston St, Lynn, MA
- Market: Lynn, MA
- Square Footage: 9,630
- Price per Square Foot: $208
Richard M. Powers from Toner Real Estate, Llc played a key role as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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