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46 Grove Street

Updated Dec 4, 2024

Anne Garcia & Leah Pennini Facilitate $1.04M Sale Of Multifamily Property In Lynn
SOLDMultiFamily

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.

Players

Anne Garcia

Redfin

Broker

$1M

vol

1 deal

Broker

Lynn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $362 per square foot on a published $1M for 2,877 square feet (2024).

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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

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