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48 Pond Street Llc Acquires Multifamily Property In Beverly, MA For $2.34M

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SOLD
$2,340,000

Massachusetts

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MultiFamily4,000 SF
Sold 09/27/2021
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SOLD

48 Pond Street Llc Acquires Multifamily Property In Beverly, MA For $2.34M

5 Edwards Street, Beverly, Massachusetts, USA

See Similar Deals
MultiFamily4,000 SF
Sold 09/27/2021
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$585
Total Square Footage:4,000 SF
Transaction Type:Sale

The multifamily property located at 5 Edwards Street in Beverly, MA has been sold for $2,340,000. The transaction took place on September 27, 2021. The property consists of 9 units, with each unit priced at $260,000. The total square footage of the property is 4,000, resulting in a price per square foot of $585. The buyer of the property is 48 Pond Street Llc, while the seller is 5 Edwards Street Llc. The deal was facilitated by Dan Pouladian of Northshore Realty Advisors, who represented the seller and procured the buyer.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,340,000
  • Address: 5 Edwards Street, Beverly, MA
  • Market: Beverly, MA
  • Units: 9
  • Price Per Unit: $260,000
  • Square Footage: 4,000
  • Price Per Square Foot: $585

This transaction demonstrates the successful collaboration between buyer 48 Pond Street Llc and seller 5 Edwards Street Llc. Dan Pouladian, a representative from Northshore Realty Advisors, played a crucial role in facilitating the deal, working with the seller and finding a suitable buyer. It is worth noting that this transaction occurred during Dan Pouladian's tenure with another brokerage.

Players

Dan Pouladian
67 deals$302.3M volume(617) 548-7737
BROKER

BUYER

Details

SOLD
IMAGE: Dan Pouladian DATE: 09/27/2021 ADDRESS: 5 Edwards Street MARKET: Beverly, MA ASSET TYPE: Multifamily BUYER: 48 Pond Street Llc SELLER: 5 Edwards Street Llc BROKER: Dan Pouladian (@DanPouladian) - Northshore Realty Advisors ASKING PRICE: $2,340,000 SALE PRICE: $2,340,000 UNITS: 9 ~ PPU: $260,000 SF: 4,000 ~ PPSF: $585 NOTE: Dan Pouladian represented the Seller and procured the Buyer. This transaction took place while with another brokerage.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$124,800.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,313.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,092.79
Annual Debt Service$133,113.53