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
Lowell MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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