Updated Dec 4, 2024
Joseph Scapicchio Of Berkshire Hathaway HomeServices Represents Buyer In Beverly Multifamily Sale For $1.1M
12 Highland Avenue
$1,100,000
$316/SF
Building Size
3,475 SF
Asset Type
MultiFamily
Closing
Jul 30, 2024
About this deal
AI
A 4-family multifamily property located at 12 Highland Avenue in Beverly, MA, has been sold for $1.1 million. The property comprises a total of 3,475 square feet, which includes 6 bedrooms and 5 bathrooms, reflecting a price per unit of $275,000 and a price per square foot of $317.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,100,000
- Number of Units: 4
- Square Footage: 3,475
- Price Per Unit: $275,000
- Price Per Square Foot: $317
- Buyer's Representative: Joseph Scapicchio - Berkshire Hathaway HomeServices
- Seller's Representative: Gary Blattberg - Re/Max
The investment property is situated 0.3 miles from Beverly Depot and features recent major upgrades, a terraced backyard, and a mix of 1 and 2-bedroom units. Additional amenities include off-street parking and coin-operated laundry facilities.
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Beverly 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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93