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155 Middlesex St 8 Unit Apartment Building $2,500,000 ($312,500/Unit) 6.50% Cap Rate Lowell, MA 01852

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Executive Summary

Historic building in the center of Lowell. 8 units, 100% renovated loft building. Tenant paid utilities, walking distance to all major transportation and all city activities. Attached parking lot can support new construction of 27 market rate units. Fully sprinkler system installed, secured entrance with security cameras
100% tenant occupied for 12 years, new systems and extremely well maintained property

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Property Facts

Price	$2,500,000	Apartment Style	Mid-Rise
Price Per Unit	$312,500	Building Class	C
Sale Type	Investment	Lot Size	0.08 AC
Cap Rate	6.50%	Building Size	11,695 SF
Sale Condition	1031 Exchange	No. Stories	4
No. Units	8	Year Built/Renovated	1983/2006
Property Type	Multifamily	Parking Ratio	0.17/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	DMU

Price	$2,500,000
Price Per Unit	$312,500
Sale Type	Investment
Cap Rate	6.50%
Sale Condition	1031 Exchange
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Mid-Rise
Building Class	C
Lot Size	0.08 AC
Building Size	11,695 SF
No. Stories	4
Year Built/Renovated	1983/2006
Parking Ratio	0.17/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	DMU