Gary Gilbert Acquires MultiFamily Property In Peabody, MA For $1.15M
SOLD
$1,150,000
Massachusetts
See Similar DealsMultiFamily3,942 SF
Sold 06/12/2023
SOLD
Gary Gilbert Acquires MultiFamily Property In Peabody, MA For $1.15M
62 Lowell St Peabody, MA 01960, USA
See Similar DealsMultiFamily3,942 SF
Sold 06/12/2023
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$291
Total Square Footage:3,942 SF
Transaction Type:Sale
A multifamily property located at 62 Lowell Street in Peabody, MA, has been sold for a price of $1,150,000. The property consists of 5 units with an average price per unit of $230,000. It has a total square footage of 3,942, resulting in a price per square foot of $292.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $1,150,000
- Units: 5
- Price Per Unit: $230,000
- Square Footage: 3,942
- Price Per Square Foot: $292
- Address: 62 Lowell Street, Peabody, MA
- Buyer: Gary Gilbert
- Seller: Jay Goldberg
- Broker: Stephen Girolamo - Horvath & Tremblay
Stephen Girolamo from Horvath & Tremblay represented both the buyer, Gary Gilbert, and the seller, Jay Goldberg, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$61,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04
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