Updated Dec 21, 2023
Horvath & Tremblay Brokers $2.275M Sale Of Lynn Multifamily Property On Essex St
551 Essex St, Lynn, MA, USA
$2,275,000
$248/SF
Building Size
9,175 SF
Asset Type
MultiFamily
Closing
Oct 22, 2021
About this deal
AI
A multifamily property located at 551 & 555 Essex St in Lynn, MA was recently sold. The property spans an area of approximately 0.197 acres and consists of 13 units. The total square footage of the property is 9,175, with an average price per square foot of $248. The transaction was facilitated by broker Stephen Girolamo from Horvath & Tremblay, who represented the parties involved.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $2,275,000
- Units: 13
- Price per Unit: $187,579
- Square Footage: 9,175
- Price per Square Foot: $248
- Address: 551 & 555 Essex St, Lynn, MA
- Market: Lynn, MA
This transaction represents a significant deal in the Lynn market. The involvement of broker Stephen Girolamo from Horvath & Tremblay highlights the expertise and representation provided to the buyers and sellers in this transaction.
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
6.97%
Cash-on-Cash
-1.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93