Arrowpoint Sells Multifamily Property In Methuen, MA For $6.5M By Horvath & Tremblay
SOLD
$6,500,000
+ 1
Massachusetts
See Similar DealsMultiFamily
Sold 07/30/2020
SOLD
Arrowpoint Sells Multifamily Property In Methuen, MA For $6.5M By Horvath & Tremblay
70-72 Union Street, Methuen, MA, USA
See Similar DealsMultiFamily
Sold 07/30/2020
+ 1
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 70-72 Union Street & 17-19 Grove Street in Methuen, MA has been sold for $6,500,000. The transaction took place on 07/30/2021. The property consists of 36 units, with a price per unit (PPU) of $180,556. The cap rate for the property is 6.1%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Units: 36
- Price Per Unit (PPU): $180,556
- Cap Rate: 6.1%
The seller of the property was Arrowpoint, represented by Jay Goldberg. The brokers involved in the deal were Dennis Kelleher, John Pentore, and Spencer Norton from Horvath & Tremblay.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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