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Prepared for : Sep-18-2024 10:19:17 pm

53-55-57 Hale St
Beverly, MA. 01915
MLS # 73235436
Multi-Family 5+ Family Varies  
Status Sold
Area Beverly Cove
County Essex
Directions Lothrop Street To Dane St, Right On Hale
List Price $2,975,100 Days on Market  
List Date   # Units 9
Sale Price $3,120,000 # Floors  
Sold Date 7/31/24 Rooms 35
Assessed Value $2,235,000 Bedrooms 17
Gross Living Area 7,051SF Full Baths  
Lot Size 17,228SF Half Baths  
Taxes $25,214.00 Fireplaces  
Tax Year 2024 Basement Yes
Zoning R6 Waterfront No
Est. Street Front   Beach Nearby Yes
Year Built 1880 Parking Spaces 20
    Garage Spaces 0
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All offers due Monday (5/13) by 6 PM. Seller reply by Tuesday (5/14) by 6 PM. Final Group showing by appointment only. Monday (5.13), 10 AM – email Listing Broker if you plan to attend the Group showing. A Beverly Cove investment opportunity not to be missed! The perfect blend of superior location with a strong income stream. Only 2 blocks to Dane St Beach and thriving Downtown Beverly. Less than ¾ mile to Beverly MBTA. Three well-maintained contiguous parcels (combined lot 17,228+- sq ft) with 9 units on desirable Hale Street with 20+- car parking to be sold as a package. Eight nicely appointed 2-bedroom apartments & one 1-bedroom apartment. See separate income & expense statement and breakdown of Leases/TAW's. . Can also be purchased with 12 Highland Ave, Beverly. Another outstanding downtown 4-unit property ($1.2M) and 21 Symonds St, Salem. A strong income producing 3-unit in North Salem ($950K).


Amenities : Public Transportation, Park, Walk/Jog Trails, Golf, Medical Facility, Bike Path, Conservation Area, Highway Access, House of Worship, Marina, Private School, Public School, T-Station, University
Appliances : Range, Disposal, Refrigerator, Dishwasher, Microwave
Basement : Full, Walk-Out Access, Interior Entry, Dirt Floor, Concrete
Beach : Beach Access, 1/10 to 3/10 To Beach, Beach Ownership(Public)
Construction : Frame
Cooling : None
Electricity : Circuit Breakers, 100 Amp Service, Individually Metered, Varies per Unit
Energy Eff. : Varies per Unit
Exterior Feat. : Balcony, Rain Gutters
Flooring : Wood, Tile, Vinyl, Varies
Foundation : Stone, Brick/Mortar
Heating : Forced Air, Natural Gas, Individual, Unit Control
Heating Zones : 9
Hot Water : Natural Gas, Electric, Varies Per Unit
Interior : Bathroom With Tub & Shower, Upgraded Cabinets, Upgraded Countertops, Bathroom with Shower Stall, Remodeled, Living Room, Kitchen
Lead Paint : Unknown
Parking : Paved Drive, Off Street, Driveway, Paved
PatioAndPorchFeatures : Deck, Deck - Wood
Road : Paved
Roof : Shingle
Sewer / Water : Public Sewer, Public
Utility Connections : for Gas Range
Warranty : No
Windows : Skylight(s), Insulated Windows

Unit 1 : Bedrooms: 2, Floor: 2, Full Baths: 1, Lease: Yes, Levels: 1, Rent: 2400
Unit 2 : Bedrooms: 2, Floor: 3, Full Baths: 1, Lease: No, Levels: 1, Rent: 2400
Unit 3 : Bedrooms: 2, Floor: 1, Full Baths: 1, Lease: No, Levels: 1, Rent: 2600
Unit 4 : Bedrooms: 2, Floor: 2, Full Baths: 1, Lease: Yes, Levels: 1, Rent: 2300

Electricity : $5,342
Expenses Source : Owner
Gross Expenses : $51,449
Gross Oper. Income : $278,940
Misc. : $1,272
Net Oper. Income : $227,491
Refuse Removal : $900
Water/Sewer Exp. : $3,552

APOD Available? : Yes
Deed : Book: 35600, Page: 274
Disclosures : Legal 9 unit building. Income & expense statement reflects 11 units & $2640 generated from coin-op. If presenting an offer,please include that Buyer agrees to cooperate w/ the Seller if Seller elects to enter into a 1031 Like Kind Exchange. Offers should be 1 PDF. Do not send links w multiple docs.
GLA Includes Basement : No
GLA Source : Public Records
Living Area Disclosures : Property is a legal 9 unit bldg. Income and Expense statement reflects 11 units.
Off Market Date : 5/27/24
Seller Disclosure Doc : No
Terms : Other (See Remarks)
Year Built Desc. : Approximate
Year Built Source : Public Records


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