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David Lilley & Fintan Madden Facilitate Sale Of Gloucester Multifamily Property For $1.35M
SOLD
Massachusetts
See Similar DealsMultiFamily2,933 SF
Sold 02/16/2024
SOLD
David Lilley & Fintan Madden Facilitate Sale Of Gloucester Multifamily Property For $1.35M
89 Lexington Avenue
See Similar DealsMultiFamily2,933 SF
Sold 02/16/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$460
Total Square Footage:2,933 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$72,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26
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