Brickpoint Properties Acquires Multifamily Asset From Mary Lynn Sully For $8.25 Million In Lynn MA
SOLD
$8,250,000
Massachusetts
See Similar DealsMultiFamily37,250 SF
Sold 05/15/2025
SOLD
Brickpoint Properties Acquires Multifamily Asset From Mary Lynn Sully For $8.25 Million In Lynn MA
Washington Street
See Similar DealsMultiFamily37,250 SF
Sold 05/15/2025
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$221
Total Square Footage:37,250 SF
Transaction Type:Sale
The property asset involved in the transaction is a MultiFamily building located at 204 & 208 Washington Street in Lynn, MA. The sale price for the property was $8,250,000, featuring a total of 35 units. The total square footage of the property is 37,250, which results in a price per unit of $235,714 and a price per square foot of $221.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $8,250,000
- Units: 35
- Square Footage: 37,250
- Price Per Unit: $235,714
- Price Per Square Foot: $221
- Buyer: Brickpoint Properties
- Seller: Mary Lynn Sully
- Brokers: Ryan Taylor & Brayden Haney - Fortune Realty
- Date of Transaction: 5/15/2025
The key individuals involved in the deal include the buyer, Brickpoint Properties, and the seller, Mary Lynn Sully. The transaction was facilitated by brokers Ryan Taylor and Brayden Haney, representing Fortune Realty, ensuring a secure process for both the buyer and seller throughout the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$439,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,310.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,109.21
Annual Debt Service$469,310.51
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