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Coldwell Banker Brokers Sale Of Gloucester Multifamily Property For $1.2M
SOLD
$1,200,000
Massachusetts
See Similar DealsMultiFamily3,785 SF
Sold 05/17/2024
SOLD
Coldwell Banker Brokers Sale Of Gloucester Multifamily Property For $1.2M
101 Western Avenue
See Similar DealsMultiFamily3,785 SF
Sold 05/17/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$317
Total Square Footage:3,785 SF
Transaction Type:Sale
A waterfront mixed-use multifamily property located at 101 Western Avenue in Gloucester, MA, was recently sold for $1.2 million. The property spans 3,785 square feet, translating to a price per square foot of $317.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Address: 101 Western Avenue
- Market: Gloucester, MA
- Broker: Gabriela Debenedictis - Coldwell Banker
The sale of this property provides a unique opportunity with various potentials, including owner-occupied living, commercial use, or condominium conversion. Gabriela Debenedictis from Coldwell Banker facilitated this transaction, showcasing her expertise in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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