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Herrick Lutts Realty Partners Facilitates $3.75M Sale Of Multifamily Property in Danvers, MA

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SOLD
$3,750,000

Massachusetts

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MultiFamily9,968 SF
Sold 02/14/2024
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SOLD

Herrick Lutts Realty Partners Facilitates $3.75M Sale Of Multifamily Property in Danvers, MA

45 Pickering Street

See Similar Deals
MultiFamily9,968 SF
Sold 02/14/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$376
Total Square Footage:9,968 SF
Transaction Type:Sale

The multifamily property located at 45 Pickering Street in Danvers, MA was sold for $3,750,000. The property consists of 12 units with a total of 9,968 square feet, translating to a price per unit of $312,500 and a price per square foot of $376.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,750,000
  • Units: 12
  • Square Footage: 9,968
  • Price Per Unit: $312,500
  • Price Per Square Foot: $376
  • Address: 45 Pickering Street
  • Market: Danvers, MA
  • Seller's Representative: Jason Grzybek - Herrick Lutts Realty Partners

Jason Grzybek of Herrick Lutts Realty Partners served as the seller's representative in the transaction, facilitating the successful sale of the multifamily property. The deal highlights the expertise and professionalism of the individuals and firms involved in the real estate transaction.

Players

Jason Grzybek
7 deals$20.6M volume(978) 430-2881
BROKER

Details

SOLD
IMAGE: Jason Grzybek DATE: 02/14/2024 ADDRESS: 45 Pickering Street MARKET: Danvers, MA ASSET TYPE: Multifamily SELLER'S REP: Jason Grzybek (@Jason_Grzybek) - Herrick Lutts Realty Partners (@HerrickLuttsRealty) SALE PRICE: $3,750,000 UNITS: 12 ~ PPU: $312,500 SF: 9,968 ~ PPSF: $376

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,322.96
Cash-on-Cash Return-1.27%
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