Herrick Lutts Realty Partners Facilitates $3.75M Sale Of Multifamily Property in Danvers, MA
45 Pickering Street
$3,750,000
$376/SF
Building Size
9,968 SF
Asset Type
MultiFamily
Closing
Feb 14, 2024
AI
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.
Danvers 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
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93