Michael DiCienzo Acquires Worcester Multifamily Property From Paul Gasparro For $1.025M
SOLD
$1,025,000
Massachusetts
See Similar DealsMultiFamily6,222 SF
Sold 09/03/2024
SOLD
Michael DiCienzo Acquires Worcester Multifamily Property From Paul Gasparro For $1.025M
9 Mount Vernon Street
See Similar DealsMultiFamily6,222 SF
Sold 09/03/2024
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$54,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,641.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,859.02
Annual Debt Service$58,308.28
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