Spire Investments Acquires Multifamily Property In Gloucester, MA For $1.65M
SOLD
$1,650,000
Massachusetts
See Similar DealsMultiFamily
Sold 09/12/2022
SOLD
Spire Investments Acquires Multifamily Property In Gloucester, MA For $1.65M
1 Webster Street, Gloucester, Massachusetts 01930, United States
See Similar DealsMultiFamily
Sold 09/12/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1 Webster Street in Gloucester, MA has been sold for a price of $1,650,000. The property consists of 9 units, resulting in a per unit price of $183,333.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,650,000
- Address: 1 Webster Street, Gloucester, MA
- Market: Gloucester, MA
- Buyer: Spire Investments - Jay Goldberg
Spire Investments, represented by Jay Goldberg, has acquired the property at 1 Webster Street. The transaction marks a significant investment opportunity in the multifamily sector in Gloucester, MA.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$88,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10
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