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You are here:
Home Massachusetts Beverly Multi-Family Homes for Sale

240 Rantoul St Beverly, MA 01915

NEW
23 Photos
$2,625,000
8 Unit
8 Beds
8 Baths
9202 SQFT
0.21 Acre
240 Rantoul St
Beverly, MA 01915

Property Description

Located in the heart of Downtown Beverly, MA, this 3-story mixed-use asset consisting of eight (8) units is a rare find and has not been available for sale since 1990. This generational asset has been well maintained and numerous improvements have been made to the property. The property boasts a rentable square footage of 9,202±, with a total gross of 10,176 ± SF. The property consists of four (4) high-end two-bedroom units, two (2) storefront retail units with high visibility and two (2) industrial units facing Park Street. The property offers their residence coin-op laundry facilities, and twenty-two (22) off-street parking with entrance from Park Street. Each unit is separately metered for gas heat / hot water and electricity. Some notable capital improvements completed in 2023 consist of a new rubber membrane roof, new front façade, two residential units completely renovated, window replacements and commercial space build-out. The asset offers a turn-key prime investment.

Property Overview

Property Details click or tap to expand

Building Information

  • Total Units: 8
  • Total Floors: 10
  • Total Bedrooms: 8
  • Total Full Baths: 4
  • Total Half Baths: 4
  • Total Fireplaces: 4
  • Amenities: Highway Access, Laundromat, Medical Facility, Park, Public Transportation, Shopping, T-Station, Walk/Jog Trails
  • Basement Features: Concrete Floor, Finished, Full, Other (See Remarks), Walk Out
  • Common Interior Features: Tile Floor

Financial

  • APOD Available: Yes
  • Gross Operating Income: 187320
  • Gross Expenses: 14249
  • GSE: 422
  • Electric Expenses: 1380
  • Water/Sewer: 2304
  • INSC: 8000
  • Repairs & Maintenance: 4000
  • RFS: 400
  • Management Fee: 9000
  • Net Operating Income: 134099

Utilities

  • Energy Features: Insulated Doors, Insulated Windows
  • Utility Connections: for Electric Range, for Gas Range, Varies per Unit
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 2 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Under Lease: No
  • Floors: 3
  • Levels: 1

Unit 4 Description

  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5+ Family - 5+ Units Up/Down
  • Foundation Info: Fieldstone
  • Flooring Type: Hardwood, Tile, Vinyl
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73269877
  • Last Updated: 07/26/24

Property History click or tap to expand

Date Event Price Price/Sq Ft Source
07/26/2024New$2,625,000$285MLSPIN
07/26/2024New$2,625,000$258MLSPIN

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Seller's Representative: Dan Pouladian, North Shore Realty Advisors
Sub Agent Compensation: n/a
Buyer Agent Compensation: 1.5
Facilitator Compensation: 1
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing 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 or leasing. 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 set forth herein.

MLS PIN data last updated at 2024-07-26 13:31:00