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10 Fort Beach Lane

Updated Dec 4, 2024

Dick Mckinley Of Sotheby's International Realty Represents Buyer In $1.2M Marblehead MultiFamily Sale
SOLDMultiFamily

Dick Mckinley Of Sotheby's International Realty Represents Buyer In $1.2M Marblehead MultiFamily Sale

10 Fort Beach Lane

$1,200,000

$565/SF

Building Size

2,124 SF

Asset Type

MultiFamily

Closing

Jul 12, 2024

About this deal

AI

A historic two-family home in Marblehead's Old Town, located at 10 Fort Beach Lane, was sold for $1,200,000. The property features 3 bedrooms, 2 bathrooms, and water views, covering a total square footage of 2,124. The per-unit price is $600,000, and the price per square foot is $565. Significant updates include new siding, updated interiors, and a crow's nest with vaulted ceilings. The property also includes a yard and is in proximity to Fort Beach and local landmarks.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,200,000
  • Units: 2
  • Square Footage: 2,124
  • Price Per Unit: $600,000
  • Price Per Square Foot: $565
  • Buyer's Representative: Dick Mckinley - Sotheby's International Realty
  • Seller's Representative: Merry Fox Team - MerryFox Realty

The deal was facilitated by Dick Mckinley from Sotheby's International Realty, representing the buyer. The seller was represented by the Merry Fox Team from MerryFox Realty. This transaction highlights the collaborative efforts of these real estate professionals in closing the deal on this notable property.

Players

Dick Mckinley

Sotheby's International Realty

Broker

$2.2M

vol

2 deals

Broker

Marblehead MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $565 per square foot on a published $1.2M for 2,124 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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