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170-172 North Main Street

Christian Doherty & Mary ODonoghue Facilitate $1M Sale Of Andover, MA Multifamily
SOLDMultiFamily

Christian Doherty & Mary ODonoghue Facilitate $1M Sale Of Andover, MA Multifamily

170-172 North Main Street

$1,000,000

$379/SF

Building Size

2,638 SF

Asset Type

MultiFamily

Closing

May 22, 2024

AI

A completely renovated two-family home in downtown Andover, MA, sold for $1,000,000. This property features remodeled kitchens with custom cabinets and granite countertops, updated baths, hardwood floors, and central air. With a total of two units, each consisting of three bedrooms, in-unit laundry facilities, and a living space of 2,638 square feet, this home offers modern comfort and convenience. Additionally, its location provides proximity to Andover town center and the commuter rail to Boston.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,000,000
  • Address: 170-172 North Main Street
  • Market: Andover, MA
  • Units: 2
  • Price per Unit: $500,000
  • Square Footage: 2,638
  • Price per Square Foot: $379

The buyer's representative in this transaction was Christian Doherty from Doherty Properties, while the seller's representative was Mary ODonoghue from William Raveis Real Estate.

Players

Christian Doherty

Broker

$4.7M

vol

3 deals

Broker

Andover MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93