Updated Oct 29, 2024
Spire Investments Acquires Gloucester Multifamily For $2.25M
8 Flume Rd, Gloucester, MA 01930, Estados Unidos
$2,250,000
$287/SF
Building Size
7,838 SF
Asset Type
MultiFamily
Closing
Oct 29, 2020
About this deal
AI
Located at 8 Flume Road in Gloucester, MA, this multifamily property has recently been sold. The transaction took place on October 30, 2020, with a sale price of $2,250,000. The property consists of 15 units, resulting in a price per unit of $150,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,250,000
- Units: 15
- Price Per Unit: $150,000
The buyer involved in this transaction is Spire Investments. The deal was facilitated by Stephen Girolamo from Horvath & Tremblay, who represented the buyer as the broker in the transaction.
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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93