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Joseph Scapicchio Of Berkshire Hathaway HomeServices Represents Buyer In Beverly Multifamily Sale For $1.1M

Property Image
SOLD
$1,100,000
Joseph Scapicchio
Gary Blattberg

Massachusetts

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MultiFamily3,475 SF
Sold 07/30/2024
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Property Image
SOLD

Joseph Scapicchio Of Berkshire Hathaway HomeServices Represents Buyer In Beverly Multifamily Sale For $1.1M

12 Highland Avenue

See Similar Deals
MultiFamily3,475 SF
Sold 07/30/2024
Joseph Scapicchio
Gary Blattberg
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$316
Total Square Footage:3,475 SF
Transaction Type:Sale

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:

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.

Players

Joseph Scapicchio
Berkshire Hathaway HomeServices
Joseph Scapicchio
2 deals$2.4M volume
BROKER
Gary Blattberg
Re/Max
Gary Blattberg
2 deals$4.2M volume(978) 852-5077
BROKER

Details

SOLD
IMAGE: Joseph Scapicchio & Gary Blattberg DATE: 07/30/2024 ADDRESS: 12 Highland Avenue MARKET: Beverly, MA ASSET TYPE: Multifamily BUYER'S REP: Joseph Scapicchio (@JoesRealtorBoston) - Berkshire Hathaway HomeServices (@BHHSRealEstate) SELLER'S REP: Gary Blattberg (@The_Gary_Blattberg_Team) - Re/Max (@ReMaxBeacon) SALE PRICE: $1,100,000 UNITS: 4 ~ PPU: $275,000 SF: 3,475 ~ PPSF: $317 NOTE: A well-maintained 4-family property at 12 Highland Ave, Beverly, sold for $1.1 million, featuring 6 beds, 5 baths, and 3,475 sq ft. The investment property, located 0.3 miles from Beverly Depot, includes recent major upgrades, terraced backyard views, and a mix of 1 and 2-bedroom units with off-street parking and coin-op laundry.

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

$58,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73