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.
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