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Marcus & Millichap Facilitates $3.1M Sale Of Multifamily Property In Lowell, MA

Property Image
SOLD
$3,100,000
Will Sanborn
Tony Pepdjonovic
Evan Griffith

Massachusetts

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MultiFamily
Sold 03/21/2024
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Facilitates $3.1M Sale Of Multifamily Property In Lowell, MA

887 Varnum Avenue

See Similar Deals
MultiFamily
Sold 03/21/2024
Will Sanborn
Tony Pepdjonovic
Evan Griffith
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

An apartment building with 17 units located at 887 Varnum Ave in Lowell, MA, was sold for $3,100,000. The sale was facilitated by Marcus & Millichap.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $3,100,000
  • Units: 17
  • Price Per Unit: $182,353
  • Address: 887 Varnum Avenue
  • Market: Lowell, MA

The brokerage team from Marcus & Millichap consisting of Evan Griffith, Tony Pepdjonovic, and Will Sanborn played a key role in the successful sale of the apartment building in Lowell, a Boston suburb.

Players

Evan Griffith
Marcus & Millichap
Evan Griffith
65 deals$388M volume
BROKER
Tony Pepdjonovic
Marcus & Millichap
Tony Pepdjonovic
77 deals$383.6M volume
BROKER
Will Sanborn
Marcus & Millichap
Will Sanborn
5 deals$23.6M volume
BROKER

Details

SOLD
IMAGE: Tony Pepdjonovic, Evan Griffith & Will Sanborn DATE: 03/21/2024 ADDRESS: 887 Varnum Avenue MARKET: Lowell, MA ASSET TYPE: Multifamily BROKERS: Evan Griffith, Tony Pepdjonovic & Will Sanborn - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $3,100,000 UNITS: 17 ~ PPU: $182,353 NOTE: Marcus & Millichap facilitated the $3.1 million sale of a 17-unit apartment building at 887 Varnum Ave. in Lowell, a Boston suburb.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
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