Updated Oct 28, 2024
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
About this deal
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.
On the Map
$2,900,000
MultiFamily
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Players
Gardner MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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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