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.
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