Updated Dec 4, 2024
Marcus & Millichap Facilitates $3.1M Sale Of Multifamily Property In Lowell, MA
887 Varnum Avenue
$3,100,000
Units
17
Asset Type
MultiFamily
Closing
Mar 21, 2024
About this deal
AI
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
Lowell 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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93