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9 Mount Vernon Street

Michael DiCienzo Acquires Worcester Multifamily Property From Paul Gasparro For $1.025M
SOLDMultiFamily

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

Ethan Lazar

Horvath & Tremblay

Broker

$12.2M

vol

6 deals

Broker

Worcester 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

15.48%

Cash-on-Cash

-4.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93