Spire Investments purchases Beverly apartment complexes for $8.8 million

Beverly, MA Jay Goldberg of Spire Investments purchased two brick apartment complexes consisting of 32 residential units in Beverly, MA for $8.8 million.

The first property is located at 80 Herrick St. adjacent to Beverly Hospital. 80 Herrick St., a three-story 24-unit brick building, features balconies and patios with all the units. The second property is located at 600 Cabot St. and is a two-story brick apartment building with a full basement and storage area.

The one- and two-bedroom unit mix for both properties has plenty of off-street parking and on-site laundry. Both buildings are 100% occupied. Moreover, residents enjoy the location of the properties which are well-located within ¼ to 1 mile to the Route 128 interchange in Beverly and close proximity to the downtown and waterfront.

Goldberg purchased the buildings from Herrick Realty Partners.

“They know we perform and do what we say we are going to do. I have coveted both these buildings for a long-time, and I am thrilled to get these under ownership," said Goldberg.

Tags: Owners Developers & Managers

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