Multi-Family Properties for Sale

19 Briscoe St, Beverly, MA 01915

$1,150,000

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Ready to get in the game? This 6 unit income property is the one you've been waiting for. All the work's been done, including: vinyl replacement windows, all units emptied, remodeled and re-rented. Exterior paint contracted for Spring AND seller will install 6 new forced hot water/gas heating systems prior to closing! Plenty of newly-paved parking in one of the best locations in town, next to Montserrat College of Art & just blocks to Dane Street Beach, Lynch Park & Beverly Depot commuter rail to North station. Call or click today to see the 5 year, 18% return on investment projections - are you achieving that in the stock market? Additional 5 units available for an 11 unit package. See MLS#:72450796

INVESTMENT HIGHLIGHTS

List Price

$1,150,000

Gross Living Area

4,008 Sq.Ft.

Price per Sq.ft.

$287

Number of Units

6

Price per Unit

$191,667

Taxes

$10,429

Down Payment 25%

$287,500

Loan Amount

$862,500

Monthly Payment 4.5%

$4,370

Net Operating Income

$77,961

Annual Cash Flow

$25,521

Cash on Cash Return

8.9%

Cap Rate

6.8%

Condo Conversion Equity

($236,176)

Year Built

1890

Lot Size

5,770 Sq.Ft.

Basement

Y

Assessed Value

$789,500

Bedroms

10

Bathrooms

6 full / 0 half

Parking Spaces

7

Garage Spaces

0

ANNUAL INCOME & EXPENSE BREAKDOWN

Income

Projected

Gross Scheduled Rent

$105,480

Less 5.0% Vacancy

$5,274

Net Rental Income

$100,206

Other Income

$0

Total Operating Income

$100,206

Expenses

Projected

Real Estate Taxes

$10,429

Insurance

$2,300

Water/Sewer

$1,500

Heat

$0

Electric

$0

Trash Removal

$0

Management Fee

$5,010

Maintenance/Repairs

$3,006

Total Operating Expenses

$22,245

Net Operating Income

$77,961

Less Debt Service

$52,440

Potential Net Cash Flow

$25,521

Cash on Cash Return

8.9%

Cap Rate

6.8%

Condo Conversion Equity

($236,176)

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Disclaimer: We do not guarantee the accuracy of the numbers provided are 100% accurate. But we are saying these are in fact rough estimates that you can use as a tool to help decide whether or not you’d like to continue to learn more about the property or not. We recommend doing your own due diligence or having a one of our agents do the leg work for you. There are just too many factors that can affect any of the projected numbers listed on any property on our website. Such factors beyond our control include but are not limited to: Financing Terms, Tax Rates, Overall Condition of Property, Investors ability to operate and manage property and tenants effectively.

This property is listed by Eric Towne of Tache Real Estate, Inc.. The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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Dale Spencer, Watertown, MA

Steve Martin is a gem! We have bought and sold many properties over the years and this last one was with Steve’s management. Within a very short period of time, Steve brought us qualified buyers; not people just looking. And, therefore, the sale went quickly and smoothly. Steve knows his market and his social media methods of communication are astounding. With Steve’s expertise, knowledge of the real estate market and easy but professional manner, he brought three bids over price the first week the house was on the market. Pretty impressive! I wish I had more properties to sell!

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