Updated Dec 4, 2024
David Lilley & Fintan Madden Facilitate Sale Of Gloucester Multifamily Property For $1.35M
89 Lexington Avenue
$1,350,000
$460/SF
Building Size
2,933 SF
Asset Type
MultiFamily
Closing
Feb 16, 2024
About this deal
AI
In Gloucester, Massachusetts, a multifamily property located at 89 Lexington Avenue was sold for $1,350,000. The property spans 2,933 square feet with a price per square foot of $460.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Address: 89 Lexington Avenue
- Market: Gloucester, MA
The sale of the multifamily property at 89 Lexington Avenue was facilitated by David Lilley and Fintan Madden of Re/Max. They served as the brokers representing the parties involved in the transaction.
The multifamily sale at 89 Lexington Avenue in Gloucester, Massachusetts sold for $1.4M in 2024. The building is 2,933 square feet, implying about 460 per square foot on the published price. David Lilley, Fintan Madden, Re/Max appear on the sale alongside Re/Max. This page is the Gloucester, Massachusetts file for the 89 Lexington Avenue multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Gloucester sit in the Market section below. Filter that Gloucester multifamily set by closing date to see what else sold near 89 Lexington Avenue around 2024. Published consideration for 89 Lexington Avenue is $1.4M, dated 2024. Cite this David Lilley & Fintan Madden Facilitate Sale Of Gloucester Multifamily Property For $1.35M sale when underwriting similar multifamily product around Gloucester, Massachusetts.
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
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93