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60 West Third Street

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

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

60 West Third Street & 62 West Third Street

$1,300,000

$94/SF

Building Size

6,909 SF

Asset Type

MultiFamily

Closing

May 23, 2024

AI

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

East Key Realty

Broker

$1.3M

vol

1 deal

Broker

Lowell 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

12.20%

Cash-on-Cash

-3.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93