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18 Summer Street

Daniel Jeffery Purchases Multifamily Property At 18 Summer Street In Beverly For $835,000 With Nicholas Zolotas As Buyer's Rep
SOLDMultiFamily

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:

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.

Players

Nicholas Zolotas

Herrick Lutts Realty Partners

Broker

$93.1M

vol

33 deals

Broker

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