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.
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