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Beverly,MA 01915
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Side by Side
Listing Status Active
Purchase Type For Sale
Square Footage 52,603 sqft
Price per Sqft $418
MLS Listing ID 73416629
Bedrooms 99
Full Baths 81
Year Built 1890
Annual Tax Amount $194,667
Tax Year 2025
Lot Size 1.090 Acres
Property Sub-Type 5+ Family - 5+ Units Side by Side
Property Description
The Cabot Collection includes 8 properties located at 39 Railroad Ave, 5 Pleasant St, and 62, 64, 66, 80, 84 and 130 Cabot St. The Portfolio consists of 3 commercial units, 8 Studio units, (42) 1-Bed units, (22) 2-Bed units, and (2) 3-Bed units, for a total of 77 units centered around Cabot Street in Downtown Beverly, which satisfies the high demand for workforce housing in the Boston/North Shore real estate market. Over the last several years, approximately 68 of the 77 units have been renovated, and more than half of the properties feature newer roofs, most common areas have been cosmetically upgraded and many of the kitchens have been redone with modern upgrades. The opportunity exists to continue with the programmatic upgrade of the residential units to push rental rates in a high demand/limited supply market. The Cabot Collection offers investors the rare opportunity to acquire a critical mass of investment properties in a supply-constrained downtown market within the Boston MSA.
Location
State MA
County Essex
Zoning RHD & CC
Exterior
Garage Spaces 2.0
Community Features Public Transportation,Shopping,Pool,Tennis Court(s),Park,Walk/Jog Trails,Golf,Medical Facility,Laundromat,Bike Path,Highway Access,House of Worship,Marina,Private School,Public School,T-Station,University
Waterfront Description Harbor,1/2 to 1 Mile To Beach,Beach Ownership(Public)
Roof Type Shingle,Rubber
Building
Lot Description Other
Story 3
Foundation Other
Sewer Public Sewer
Water Public