Cameron Prestige, LLC Acquires Multifamily Property In Lynn, MA For $1.3M
SOLD
$1,325,000
Massachusetts
See Similar DealsMultiFamily6,495 SF
Sold 04/29/2022
SOLD
Cameron Prestige, LLC Acquires Multifamily Property In Lynn, MA For $1.3M
56-60 Cottage Street, Lynn, Massachusetts 01905, United States
See Similar DealsMultiFamily6,495 SF
Sold 04/29/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$204
Total Square Footage:6,495 SF
Transaction Type:Sale
A multifamily property located at 56-60 Cottage St in Lynn, MA was recently sold for a price of $1,325,000. The property spans a total of 6,495 square feet with a price per square foot (PPSF) of $204. This transaction took place on April 29, 2022 and the sale was facilitated by Colleen Toner from Toner Real Estate, LLC, representing the seller, and Khurram Zaheer from Cameron Prestige, LLC, representing the buyer.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,325,000
- Address: 56-60 Cottage St, Lynn, MA
- Market: Lynn, MA
- Square Footage: 6,495
- Price per Square Foot (PPSF): $204
The buyer's representative, Khurram Zaheer, from Cameron Prestige, LLC, played a key role in facilitating this transaction. Similarly, Colleen Toner, from Toner Real Estate, LLC, provided representation for the seller. Their expertise and guidance contributed to the successful completion of this sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$70,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,707.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,281.18
Annual Debt Service$75,374.11
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