Cawley and Braun of United Multi Family arrange $550,000 sale of a 10-unit property

July 12, 2012 - Front Section

221 Nesmith Street - Lowell, MA

Richard Cawley, United Multi Family

Jason Braun, United Multi Family

United Multi Family (UMF) brokered the sale of a 10 unit apartment building at 221 Nesmith St. for $550,000 ($55,000 per unit). Richard Cawley and Jason Braun of the New England office of UMF handled the sale. The clapboard siding residences were built in 1880. The property was sold by Bateson Construction Services LLC to LMack Corp. Financing was provided by Winchester Savings Bank. The CAP rate at the time of sale was 9.78% with the property having a gross annual income of $101,940.
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