Updated Oct 28, 2024
Arrowpoint Sells Multifamily Property In Methuen, MA For $6.5M By Horvath & Tremblay
70-72 Union Street, Methuen, MA, USA
$6,500,000
Units
36
Asset Type
MultiFamily
Closing
Jul 30, 2020
About this deal
AI
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.
Players
Methuen 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93