Updated Dec 4, 2024
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.
Marblehead 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93