RCG LLC Acquires Multifamily Property In Lowell, MA For $3.1M
SOLD
$3,100,000
+ 4
Massachusetts
See Similar DealsMultiFamily69,500 SF
Sold 04/12/2022
SOLD
RCG LLC Acquires Multifamily Property In Lowell, MA For $3.1M
45 Merrimack St, Lowell, Massachusetts 01852, United States
See Similar DealsMultiFamily69,500 SF
Sold 04/12/2022
+ 4
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$44
Total Square Footage:69,500 SF
Transaction Type:Sale
The multifamily property located at 45 Merrimack St in Lowell, MA has been sold. The transaction took place on 04/12/2022, with a sale price of $3,100,000. The property spans a total of 69,500 square feet, resulting in a price per square foot of $45. The buyer of the property is RCG LLC, while Charles River Realty Group acted as the seller.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Date: 04/12/2022
- Address: 45 Merrimack St
- Market: Lowell, MA
- Buyer: RCG LLC
- Seller: Charles River Realty Group
The sale of the property was facilitated by a team of brokers from Cushman & Wakefield. Bruce Lusa, Chris Sower, Jon Bryant, John Flaherty, Kevin Jones, Mary VanNatta, and Julie Regan represented the parties involved in the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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