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85 89 Cabot Street Beverly,...

Spire Investments Acquires MultiFamily Property In Beverly, MA For $1.4M
SOLDMultiFamily

Spire Investments Acquires MultiFamily Property In Beverly, MA For $1.4M

85 89 Cabot Street Beverly, Massachusetts 01915, Usa

$1,400,000

Building Size

Asset Type

MultiFamily

Closing

Jul 14, 2023

AI

Spire Investments, led by owner and president Jay Goldberg, has recently acquired 85-89 Cabot St., a three-story brick building featuring six apartment units with a mix of one and two bedrooms. The property, located in Beverly, MA, was sold for a total price of $1,400,000.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $1,400,000
  • Buyer: Spire Investments - Jay Goldberg
  • Date: 07/14/2023
  • Address: 85-89 Cabot Street, Beverly, MA
  • Seller: Not specified
  • Market: Beverly, MA

Spire Investments, represented by Jay Goldberg, successfully completed the purchase of 85-89 Cabot St. The three-story brick building comprises six apartment units with a mix of one and two bedrooms. This acquisition expands Spire Investments' portfolio and strengthens their presence in the Beverly, MA market.

Players

Jay Goldberg

Spire Investments

Buyer

$87.1M

vol

13 deals

Buyer

Greenfield Park 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

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93