Updated Dec 4, 2024
Anne Garcia & Leah Pennini Facilitate $1.04M Sale Of Multifamily Property In Lynn
46 Grove Street
$1,042,500
$362/SF
Building Size
2,877 SF
Asset Type
MultiFamily
Closing
May 20, 2024
About this deal
AI
Located at 46 Grove Street in Lynn, MA, this multifamily property was recently sold for $1,042,500. The property comprises three units with a total of 9 beds and 3 baths, spanning 2,877 square feet. With a price per unit of $347,500 and a price per square foot of $362, this investment opportunity offers a solid rent roll of $8,445.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,042,500
- Units: 3
- Square Footage: 2,877
- Price per Unit: $347,500
- Price per Square Foot: $362
- Address: 46 Grove Street, Lynn, MA
- Market: Lynn, MA
Anne Garcia from Redfin represented the buyer in this transaction, while Leah Pennini from Gamut Group served as the seller's representative, facilitating the successful sale of the multifamily property at 46 Grove Street.
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
15.22%
Cash-on-Cash
-4.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93