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Viceroy Capital Management Acquires Multifamily Property In Gloucester, MA For $4.8M

Property Image
SOLD
$4,800,000

Massachusetts

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MultiFamily30,971 SF
Sold 04/24/2023
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Property Image
SOLD

Viceroy Capital Management Acquires Multifamily Property In Gloucester, MA For $4.8M

31 Western Ave Gloucester, MA 01930, USA

See Similar Deals
MultiFamily30,971 SF
Sold 04/24/2023
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$155
Total Square Footage:30,971 SF
Transaction Type:Sale

A multifamily property located at 31 Western Avenue in Gloucester, MA has been sold for a price of $4,800,000. The property consists of 22 units with a price per unit of $218,182. The total square footage of the property is 30,971, resulting in a price per square foot of $155.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,800,000
  • Units: 22
  • Price Per Unit: $218,182
  • Square Footage: 30,971
  • Price Per Square Foot: $155
  • Address: 31 Western Avenue, Gloucester, MA
  • Market: Gloucester, MA

The buyer in this transaction is Viceroy Capital Management. The deal was facilitated by Brian DApice of The Mega Group.

Players

Brian DApice
The Mega Group
Brian DApice
16 deals$50.3M volume(978) 762-9771
BROKER

Details

SOLD
IMAGE: Brian DApice DATE: 04/24/2023 ADDRESS: 31 Western Avenue MARKET: Gloucester, MA ASSET TYPE: Multifamily BUYER: Viceroy Capital Management BROKER: Brian DApice - The Mega Group (@TheMegaGroup) SALE PRICE: $4,800,000 UNITS: 22 ~ PPU: $218,182 SF: 30,971 ~ PPSF: $155 #​_CRE

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$256,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39