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Kelly Espinola & Katie Johnson Facilitate $1.3M Sale Of 60-62 W Third St In Lowell

Property Image
SOLD
$1,300,000

Massachusetts

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MultiFamily13,818 SF
Sold 05/23/2024
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Property Image
SOLD

Kelly Espinola & Katie Johnson Facilitate $1.3M Sale Of 60-62 W Third St In Lowell

60 West Third Street & 62 West Third Street

See Similar Deals
MultiFamily13,818 SF
Sold 05/23/2024
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$94
Total Square Footage:13,818 SF
Transaction Type:Sale

Located at 60-62 West Third Street in Lowell, MA, this multifamily property was recently sold for $1,300,000. The asset comprises a total of 5 apartments with 15-20 bedrooms, accompanied by a 10-car paved parking lot. Spanning 6,909 square feet, this investment opportunity offers a unique prospect in the Lowell market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,300,000
  • Address: 60-62 West Third Street, Lowell, MA
  • Market: Lowell, MA
  • Square Footage: 6,909
  • Price per Square Foot: $188

Representing the buyer in this transaction was Kelly Espinola from Keller Williams, while Katie Johnson from East Key Realty acted as the seller's representative. The sale of this multifamily property underscores the collaborative efforts of these experienced professionals in facilitating this lucrative deal.

Players

Katie Johnson
1 deal$1.3M volume(603) 401-1776
BROKER

Kelly Espinola
Keller Williams Realty
1 deal$1.3M volume(508) 982-6264
BROKER

Details

SOLD
IMAGE: Kelly Espinola & Katie Johnson DATE: 05/23/2024 ADDRESS: 60-62 West Third Street MARKET: Lowell, MA ASSET TYPE: Multifamily BUYER'S REP: Kelly Espinola (@KellyEspinola1) - Keller Williams (@KellerWilliamsRealty) SELLER'S REP: Katie Johnson (@KatieJRealtor) - East Key Realty (@EastKeyRealty) SALE PRICE: $1,300,000 SF: 6,909 ~ PPSF: $188 NOTE: 60-62 W Third St, Lowell, MA 01850, sold for $1,300,000. This unique investment opportunity includes adjacent properties with a total of 5 apartments featuring 15-20 bedrooms, along with a 10-car paved parking lot.

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

$69,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96