North Shore Realty closes two transactions totaling $4.223m

 

 

Beverly, MA Dan and Sara Pouladian of North Shore Realty Advisors Inc. closed two separate transactions for a total of $4,222,500

5 Edwards, a three-story multi-family built in 1985 with a lot size of .43 acres (18,562 s/f). The property consists of nine two-bedroom apartments and 22 off-street parking spots. Edwards St. is located between Cabot St. and Rantoul St. which are the two main corridors in downtown. Pouladian represented the seller and procured the buyer from a 1031 exchange. This property closed at the asking price of $2.6 million or $288,888 per unit and going in cap rate of 5.8%. 

25 Bow St. was a property held by the same ownership for over 35 years making this a rare opportunity for investors. North Shore Realty Advisors, Inc. conducted a “Call for Offers” sale structure with over 30 property tours and 10 offers. The property consists of six units and eight off-street parking spaces. This property sold above the asking price of $1.6 million and closed for $1.625 million or $270,417 per unit. Pouladian represented the seller and procured the buyer on this transaction.