Michael DiCienzo Acquires Worcester Multifamily Property From Paul Gasparro For $1.025M
9 Mount Vernon Street
$1,025,000
$164/SF
Building Size
6,222 SF
Asset Type
MultiFamily
Closing
Sep 3, 2024
AI
The property sold is a multifamily asset located at 9 Mount Vernon Street in Worcester, MA. The sale price for the asset was $1,025,000. This multifamily building contains 6 units, with a price per unit of $170,833. The total square footage of the property is 6,222, resulting in a price per square foot of $164.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,025,000
- Address: 9 Mount Vernon Street
- Market: Worcester, MA
- Units: 6
- Price Per Unit: $170,833
- Square Footage: 6,222
- Price Per Square Foot: $164
- Buyer: Michael DiCienzo
- Seller: Paul Gasparro
- Broker: Ethan Lazar - Horvath & Tremblay
The transaction involved buyer Michael DiCienzo purchasing from seller Paul Gasparro, with representation provided by broker Ethan Lazar from Horvath & Tremblay in this deal.
Players
Worcester MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.48%
Cash-on-Cash
-4.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93