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

Property Image
SOLD
$1,350,000

Massachusetts

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MultiFamily2,933 SF
Sold 02/16/2024
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Property Image
SOLD

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

89 Lexington Avenue

See Similar Deals
MultiFamily2,933 SF
Sold 02/16/2024
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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.

Players

David Lilley
14 deals$34.8M volume
BROKER

Fintan Madden
Re/Max
1 deal$1.4M volume(508) 878-1659
BROKER

Details

SOLD
IMAGE: David Lilley & Fintan Madden DATE: 02/16/2024 ADDRESS: 89 Lexington Avenue MARKET: Gloucester, MA ASSET TYPE: Multifamily BROKERS: David Lilley & Fintan Madden - Re/Max SALE PRICE: $1,350,000 SF: 2,933 ~ PPSF: $460 NOTE: In Gloucester, Massachusetts, a multifamily property located at 89 Lexington Avenue was sold for $1,350,000. The sale was handled by David Lilley and Fintan Madden of Re/Max.

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Deal Type
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