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

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SOLD
$1,000,000

Massachusetts

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MultiFamily2,638 SF
Sold 05/22/2024
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Property Image
SOLD

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

170-172 North Main Street

See Similar Deals
MultiFamily2,638 SF
Sold 05/22/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$379
Total Square Footage:2,638 SF
Transaction Type:Sale

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

3 deals$4.7M volume
BROKER

Details

SOLD
IMAGE: Christian Doherty &Mary ODonoghue DATE: 05/22/2024 ADDRESS: 170-172 North Main Street MARKET: Andover, MA ASSET TYPE: Multifamily BUYER'S REP: Christian Doherty - Doherty Properties (@DohertyProperties) SELLER'S REP: Mary ODonoghue - William Raveis Real Estate (@RaveisAndover) SALE PRICE: $1,000,000 UNITS: 2 ~ PPU: $500,000 SF: 2,638 ~ PPSF: $379 NOTE: A completely renovated two-family home in downtown Andover, MA, sold for $1,000,000, featuring remodeled kitchens with custom cabinets and granite countertops, updated baths, hardwood floors, and central air. With three bedrooms in each unit, in-unit laundry, and proximity to Andover town center and commuter rail to Boston, it offers modern comfort and convenience.

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

$53,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
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