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Spire Investments Acquires Multifamily Property In Peabody, MA For $2.45M

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SOLD
$2,450,000

Massachusetts

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MultiFamily
Sold 10/07/2022
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Property Image
SOLD

Spire Investments Acquires Multifamily Property In Peabody, MA For $2.45M

7 Oak Street, Peabody, Massachusetts 01960, United States

See Similar Deals
MultiFamily
Sold 10/07/2022
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 7 Oak Street in Peabody, MA has recently been sold for $2,450,000. The property consists of 12 units, resulting in a price per unit of $204,167. This transaction was facilitated by John Craig of Marcus & Millichap on behalf of the buyer, Spire Investments, represented by Jay Goldberg.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,450,000
  • Units: 12
  • Price Per Unit: $204,167
  • Address: 7 Oak Street, Peabody, MA
  • Market: Peabody, MA

John Craig of Marcus & Millichap played a key role as the broker in this transaction, representing the buyer, Spire Investments. Jay Goldberg, on behalf of Spire Investments, was instrumental in completing the deal. The successful sale of this multifamily property demonstrates the expertise and negotiation skills of both brokers.

Players

John Craig
8 deals$24.8M volume
BROKER

Jay Goldberg
13 deals$87.1M volume
BUYER

Details

SOLD
IMAGE: John Craig DATE: 10/07/2022 ADDRESS: 7 Oak Street MARKET: Peabody, MA ASSET TYPE: Multifamily BUYER: Spire Investments - Jay Goldberg BROKER: John Craig - Marcus & Millichap (@MarcusMillichapBoston) SALE PRICE: $2,450,000 UNITS: 12 ~ PPU: $204,167

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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)-$8,704.33
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