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News: Front Section
Posted: November 18, 2016
Creahan of United Multi Family brokers $1.98 million sale of 18 unit building
Jack Creahan, United Multi Family
233 Liberty Street - Lowell, MA
Lowell, MA United Multi Family brokered the sale of a 18 unit apartment building at 233 Liberty St., for $1.98 million ($110,000 per unit). Jack Creahan of UMF handled the sale.
The brick residences were built in 1986 and consisted of all two bedroom units totaling 14,964 rs/f. Situated on a half acre site, there are 32 parking spaces according to the owner. The building features a 10 year old roof and tenants pay their own utilities. The building is located 2 miles from the Lowell Train Station.
The CAP rate at the time of sale was 6.63% with the property having a gross annual income of $205,080.
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