Updated Dec 4, 2024
Michael Tack Acquires 6-Unit Multifamily Property In Beverly, MA For $1.62M
25 Bow Street
$1,622,500
$299/SF
Building Size
5,422 SF
Asset Type
MultiFamily
Closing
Nov 15, 2023
About this deal
AI
Located at 25 Bow Street in Beverly, MA, this multifamily property recently changed hands in a sale transaction. The property consists of 6 units spread across a total of 5,422 square feet. The sale price for this transaction was $1,622,500, resulting in a per unit price of $270,417. The price per square foot was calculated at $299. The transaction took place on November 15, 2023.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,622,500
- Address: 25 Bow Street, Beverly, MA
- Market: Beverly, MA
The buyer in this transaction was Michael Tack, while the seller was Nancy Doyle. Representing the seller in this deal were Dan Pouladian and Sara Pouladian from Northshore Realty Advisors. They successfully facilitated the transaction amidst a multi-offer process. Congratulations to all parties involved, and thank you to everyone who participated in this transaction.
Players
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
9.78%
Cash-on-Cash
-2.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93