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Spire Investments Acquires Multifamily Property In Beverly, MA For $2.5M

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SOLD
$2,500,000

Massachusetts

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MultiFamily7,458 SF
Sold 11/29/2021
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SOLD

Spire Investments Acquires Multifamily Property In Beverly, MA For $2.5M

24 Washington Street, Beverly, Massachusetts, USA

See Similar Deals
MultiFamily7,458 SF
Sold 11/29/2021
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$335
Total Square Footage:7,458 SF
Transaction Type:Sale

A multifamily property located at 24 Washington Street and 29 Washington Street in Beverly, MA has been sold for $2,500,000. The property consists of 10 units with a price per unit of $250,000. The total square footage is 7,458 with a price per square foot of $335.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,500,000
  • Address: 24 Washington Street & 29 Washington Street, Beverly, MA
  • Market: Beverly, MA
  • Units: 10
  • Price per Unit: $250,000
  • Total Square Footage: 7,458
  • Price per Square Foot: $335

The buyer, Spire Investments, acquired the property. The transaction was facilitated by Stephen Girolamo from Horvath & Tremblay as the broker representing the buyer.

Players

Stephen Girolamo
99 deals$326.1M volume(781) 776-4014
BROKER

BUYER

Details

SOLD
IMAGE: Stephen Girolamo & Jay Goldberg DATE: 11/29/2021 ADDRESS: 24 Washington Street & 29 Washington Street MARKET: Beverly, MA ASSET TYPE: Multifamily BUYER: Spire Investments BROKER: Stephen Girolamo - Horvath & Tremblay SALE PRICE: $2,500,000 UNITS: 10 ~ PPU: $250,000 SF: 7,458 ~ PPSF: $335

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$8,881.99
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