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89 Lexington Avenue

David Lilley & Fintan Madden Facilitate Sale Of Gloucester Multifamily Property For $1.35M
SOLDMultiFamily

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

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.

Players

David Lilley

Re/Max

Broker

$34.8M

vol

14 deals

Broker

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