Girolamo of Horvath & Tremblay sells 12-unit property for $4 million

Beverly, MA Stephen Girolamo of Horvath & Tremblay has completed the sale of a 12-unit multi-family property at a sale price of $4 million, which is $333,333 per unit.

40 & 40R Stone St. is comprised of two multi-family buildings and contains 12, two-bedroom/one-bathroom units with 6,772 s/f of living area in 12,358 s/f of total area on a 0.44-acre parcel. The property offers an on-site laundry facility, 12 on-site parking spaces, and is separately metered for electricity, which tenants pay directly. Heat and hot water utilities are a mix of electric & oil powered. 40R Stone St. is separately metered for heat, while 40 Stone St. is centrally metered and the landlord is responsible. The landlord is responsible for city water and sewer. 

40 & 40R Stone St. is well located in a densely populated neighborhood in downtown. The property is seconds from Cabot St. and is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities. Located 17 miles northeast of Boston, The property offers convenient access to major area roadways and highways including Rtes. 1, 1A, 128 and I-95. MBTA bus route 451 is a short walk from the Property on Cabot St. providing convenient local access throughout the North Shore including the nearby Commuter Rail Stations. Commuter Rail Service to Boston is available 0.6-miles from the property at Beverly Depot Station.