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

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SOLD
$1,025,000

Massachusetts

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MultiFamily6,222 SF
Sold 09/03/2024
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Property Image
SOLD

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

9 Mount Vernon Street

See Similar Deals
MultiFamily6,222 SF
Sold 09/03/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$164
Total Square Footage:6,222 SF
Transaction Type:Sale

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
5 deals$9.3M volume(617) 910-1219
BROKER

Details

SOLD
IMAGE: Ethan Lazar DATE: 09/03/2024 ADDRESS: 9 Mount Vernon Street MARKET: Worcester, MA ASSET TYPE: Multifamily BUYER: Michael DiCienzo SELLER: Paul Gasparro BROKER: Ethan Lazar - Horvath & Tremblay SALE PRICE: $1,025,000 UNITS: 6 ~ PPU: $170,833 SF: 6,222 ~ PPSF: $164 &Tremblay

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,641.60
Cash-on-Cash Return-1.27%
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