Northeast Private Client Group Sells 6-Unit Multifamily Property in Lowell for $1,035,000
– Leading mid-market investment sales firm represents seller and sources buyer 6-unit multifamily property in Lowell–
Lowell, MA (September 13, 2019) – Investment sales broker Northeast Private Client Group has announced the sale of Salem Street Apartments located at 219-221 Salem Street in Lowell, MA. Drew Kirkland, senior associate for the firm, along with investment associate, Francis Saenz, represented the seller and procured the buyer in the $1,035,000 transaction.
Located adjacent to the UMass Lowell campus, the 6-unit multifamily is ideally situated for student housing, resulting in strong cash flow for the property.
XYZ Atlantic Property LLC sold the property to Bird and Fish Realty LLC for a price that equates to $172,500 per unit and a capitalization rate of 9.13 percent based on current net operating income.
About Northeast Private Client Group
Northeast Private Client Group is the leading mid-market investment sales firm in the region and was recently named to the Inc5000 list of America’s fastest-growing private companies. With offices in New York, Connecticut and Massachusetts, the firm actively supports private investors looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year. To learn more, visit: www.northeastpcg.com.