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42 Parker Street, Gardner, ...

Mass Ave Rentals, LLC Acquires Multifamily Property In Gardner, MA For $2.9M
FINANCEDMultiFamily

Mass Ave Rentals, LLC Acquires Multifamily Property In Gardner, MA For $2.9M

42 Parker Street, Gardner, Massachusetts 01440, United States

$2,900,000

Building Size

Asset Type

MultiFamily

Closing

Oct 27, 2022

AI

The multifamily property located at 42-50 & 52 Parker St in Gardner, MA has been involved in a closed transaction. The loan for this property was secured through a collaboration between Fidelity Bank and massdevelopment''>MassDevelopment, with Dan Rivera representing both institutions. Mass Ave Rentals, LLC, owned by Gary Lorden, acted as the landlord for this property.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,900,000
  • Address: 42-50 & 52 Parker St, Gardner, MA
  • Market: Gardner, MA

The deal's key individuals and companies involved in this transaction include Dan Rivera, who represented the lending institutions Fidelity Bank and MassDevelopment, and Gary Lorden, the owner of Mass Ave Rentals, LLC. No additional information regarding the property or the transaction has been provided.

Players

Fidelity Bank
Fidelity BankLender

Gary Lorden

Landlord

$2.9M

vol

1 deal

Landlord

Gardner MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.47%

Cash-on-Cash

-1.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93