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Toffazzal Hossain Purchases Multifamily Property From Eric Doroski In Lynn Massachusetts For $3.9M

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SOLD
$3,900,000

Massachusetts

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MultiFamily17,688 SF
Sold 12/10/2024
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Property Image
SOLD

Toffazzal Hossain Purchases Multifamily Property From Eric Doroski In Lynn Massachusetts For $3.9M

526 Western Avenue

See Similar Deals
MultiFamily17,688 SF
Sold 12/10/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$220
Total Square Footage:17,688 SF
Transaction Type:Sale

The asset involved in this transaction is a multifamily property located at 526 Western Avenue, Lynn, MA. The sale price for this property was $3,900,000, comprising 16 units with a price per unit of $243,750. The total square footage of the property is 17,688, resulting in a price per square foot of $220.

Summary of transaction details:

This transaction reflects the collaborative efforts of the involved parties, notably the representatives Zahidul Islam and Stephen Girolamo facilitating the sale. The seamless operation indicates a well-coordinated exchange between the buyer and seller, emphasizing professionalism in the real estate market.

Players

Stephen Girolamo
99 deals$326.1M volume(781) 776-4014
BROKER

Zahidul Islam
2 deals$5.9M volume(339) 666-8106
BROKER

Details

SOLD
IMAGE: Stephen Girolamo & Zahidul Islam DATE: 12/10/2024 ADDRESS: 526 Western Avenue MARKET: Lynn, MA ASSET TYPE: Multifamily BUYER: Toffazzal Hossain SELLER: Eric Doroski BUYER'S REP: Zahidul Islam - Cameron Prestige SELLER'S REP: Stephen Girolamo (@Steveo3215) - Horvath & Tremblay SALE PRICE: $3,900,000 UNITS: 16 ~ PPU: $243,750 SF: 17,688 ~ PPSF: $220

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88