Updated Sep 5, 2024
Barbara Dugan Acquires Gloucester Multifamily For $1.7M
38 Rocky Neck Avenue, Gloucester, MA, USA
$1,725,000
$370/SF
Building Size
4,656 SF
Asset Type
MultiFamily
Closing
May 21, 2020
About this deal
AI
A multifamily property located at 38 Rocky Neck Ave in Gloucester, MA was recently sold for $1,725,000. The property spans across 4,656 square feet and was sold at a price per square foot of $370.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $1,725,000
- Square Footage: 4,656
- Price per Square Foot: $370
- Address: 38 Rocky Neck Ave, Gloucester, MA
- Market: Gloucester, MA
The seller's representative in this transaction was Jarvid Cortes from Keller Williams Realty. On the buyer's side, Barbara Dugan from Engel & Völkers By The Sea represented the purchaser. They played crucial roles in facilitating the successful sale of the property.
Players
Gloucester MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.20%
Cash-on-Cash
-2.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93