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12 Central Street

Nicholas Zolotas Of Herrick Lutts Realty Partners Represents Buyer In Beverly Multifamily Sale For $3M
SOLDMultiFamily

Nicholas Zolotas Of Herrick Lutts Realty Partners Represents Buyer In Beverly Multifamily Sale For $3M

12 Central Street

$3,000,000

$439/SF

Building Size

6,832 SF

Asset Type

MultiFamily

Closing

Dec 18, 2025

AI

The asset involved in this transaction is a multifamily property located at 12 Central Street in Beverly, MA. The property consists of 8 units, with a total square footage of 6,832. The sale price for the property was $3,000,000, resulting in a price per unit of $375,000 and a price per square foot of $439.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,000,000
  • Units: 8
  • Square Footage: 6,832
  • Price Per Unit: $375,000
  • Price Per Square Foot: $439
  • Buyer's Representative: Nicholas Zolotas - Herrick Lutts Realty Partners

This transaction was represented by Nicholas Zolotas from Herrick Lutts Realty Partners, who played a key role in facilitating the deal on behalf of the buyer, ensuring all aspects of the transaction were managed efficiently.

Players

Nicholas Zolotas

Herrick Lutts Realty Partners

Broker

$93.1M

vol

33 deals

Broker

Beverly 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

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93