Daniel Jeffery Purchases Multifamily Property At 18 Summer Street In Beverly For $835,000 With Nicholas Zolotas As Buyer's Rep
18 Summer Street
$835,000
$298/SF
Building Size
2,801 SF
Asset Type
MultiFamily
Closing
Jul 24, 2024
AI
The property involved in this transaction is a multifamily asset located at 18 Summer Street, Beverly, MA. It consists of 3 units and has a total square footage of 2,801. The property was sold for $835,000, which equates to a price per unit of $278,333 and a price per square foot of $298.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $835,000
- Units: 3
- Square Footage: 2,801
- Price per Unit: $278,333
- Price per Square Foot: $298
- Buyer: Daniel Jeffery
- Seller: Jason Westin
- Buyer's Representative: Nicholas Zolotas - Herrick Lutts Realty Partners
This transaction highlights the collaboration between the involved parties, with Nicholas Zolotas representing the buyer, Daniel Jeffery, while Jason Westin served as the seller. Herrick Lutts Realty Partners facilitated the deal under Zolotas' representation.
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
19.00%
Cash-on-Cash
-5.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93