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671-677 Western Avenue

John Reardon Acquires Lynn Multifamily From Douglas Hyde For $2.55M
SOLDMultiFamily

John Reardon Acquires Lynn Multifamily From Douglas Hyde For $2.55M

671-677 Western Avenue & 44-46 Mall Street

$2,550,000

$85/SF

Building Size

29,840 SF

Asset Type

MultiFamily

Closing

Feb 29, 2024

AI

The multifamily property located at 671-677 Western Avenue & 44-46 Mall Street in Lynn, MA, was recently sold for $2,550,000. This property consists of 14 units with a total square footage of 14,920. The price per unit was $182,143, and the price per square foot was $171.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $2,550,000
  • Units: 14
  • Square Footage: 14,920
  • Price Per Unit: $182,143
  • Price Per Square Foot: $171
  • Address: 671-677 Western Avenue & 44-46 Mall Street, Lynn, MA
  • Market: Lynn, MA

John Reardon was the buyer, and Stephen Girolamo from Horvath & Tremblay represented him in the transaction. The seller, Douglas Hyde, was represented by Colleen Toner from Toner Real Estate.

Players

Colleen Toner

Toner Real Estate

Broker

$4.9M

vol

3 deals

Broker

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

6.22%

Cash-on-Cash

-1.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93