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7-11 Wallis St, Beverly MA 01915

$1,950,000

Estimated $4,626.34/month Calculator

Multi Family

Total Units: 4

Price Per Unit: $487,500

Total Rent: 124560/year

Estimated CAP Rate: 4.89%

5 Bedrooms

3 Full, 3 Half Baths

6,722 SqFt

Total Parking: 0

4,317 SqFt

Historical Mixed-Use Building! Discover an exceptional investment opportunity in this beautifully updated property in vibrant Downtown Beverly. This property features a prime first-floor commercial space with a valuable liquor license, central A/C,offering approximately 3,357 square feet of versatile space, ideal for a bar, restaurant, wedding venue, entertainment venue, or retail venture. The finished basement adds extra potential for storage or expansion.Additionally, there are three updated residential units: - Unit 1: A spacious three-bedroom with a remodeled kitchen, open-concept living area, in-unit washer/dryer, tiled bathroom, and high ceilings. - Unit 2: A bright one-bedroom unit with modern finishes, high ceilings, and in-unit laundry. - Unit 3: A large cozy studio with a flexible floor plan and a back porch.Each residential unit is modernized, ensuring a fresh atmosphere that attracts tenants.

This home has been viewed 99 times

Last Checked: November 19th, 2024 at 5:19am (Source: MLS PIN #73299930)

Gross Income: $124,560

Gross Expenses: $29,218

Net Income Calc: $95,342

CAP Rate: 4.89%

Beach Front

Annual Expenses for 7-11 Wallis St, Beverly MA 01915

Total Gross Expenses (Calculated)$29,218/year

APOD AvailableYes

Heating

Electricity$795

Water$1,250

Gas$1,250

Insurance$9,600

Sewer$1,250

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$17,573

Annual Income & Unit Breakdown for 7-11 Wallis St, Beverly MA 01915

Total Gross Income (Calculated)$124,560

Unit 1

Rental Income$3,100

LeaseN

Bedrooms3

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingNo

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 2

Rental Income$1,850

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingNo

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 3

Rental Income$1,800

LeaseY

Bedrooms0

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingNo

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 4

Rental Income$3,630

LeaseY

Bedrooms

Bathrooms3 Half

Floor1

Levels in Unit1

HeatingNo

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

General Information for 7-11 Wallis St, Beverly MA 01915

Listing ID73299930

Property TypeMulti Family / 4 Family

Price$1,950,000 ($290.09/SqFt)

Style4 Family

CityBeverly

CountyEssex

MLS Area

Neighborhood(s)Ipswich

Approximate Living Area Total6,722 SqFt

Approximate Lot Size (Acres)0.1 acres

Total Parking0

Garage Parking

Year Built1860

Year Built SourcePublic Records

Year Renovated

Year Built DetailsRenovated Since

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot Features

Foundation Area

Foundation DescriptionStone

Accessible Features1

Outdoor Space

ZoningCC

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront FeaturesHarbor, Ocean, Walk To, Beach Front, Beach Ownership(public), 0 To 1/10 Mile To Beach

Energy Features

Terms

Disclosures for 7-11 Wallis St, Beverly MA 01915

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure1 commercial unit on the first floor and 3 residen

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceEstimated

Total Gross Expenses By Broker$26,850

Total Gross Income By Broker$126,310

Total Net Income By Broker$98,910

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation

Facilitator Compensation

Sub-Agent Compensation

Compensation Based On

Financial Information for 7-11 Wallis St, Beverly MA 01915

Real Estate Taxes$17,573

Tax Year2024

Assessed Value$1,059,600

Financial Data SourceEstimated

Total Gross Expenses By Broker$26,850

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$126,310

BostonRealEstate.com Gross Income

Total Net Income By Broker$98,910

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)4.89%

Location Information for 7-11 Wallis St, Beverly MA 01915

Elementary School

Middle School

High School

Neighborhood(s)Ipswich

MLS Area

Area AmenitiesWalk/jog Trails, Conservation Area, Highway Access, House Of Worship, Public School, Shopping, Golf, Park, Medical Facility, Laundromat, Bike Path, Public Transportation, T-station, Pool, Tennis Court(s), Stable(s), Marina, Private School, University, Sidewalks

Contact Information for 7-11 Wallis St, Beverly MA 01915

Agent

Name: Jarvid Cortes

Office

Name: Keller Williams Realty Evolution

Phone: 978-927-8700

Payment Calculator

, Interest

Property Taxes 1464.42

Principal & Interest 12015.28

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Keller Williams Realty Evolution

Jarvid Cortes

Agent Phone

Office Phone

(978) 927-8700

Text Agent Call Agent Call Office

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EXIT

Withdrawn

7-11 Wallis St, Beverly MA 01915

$1,950,000

Annual Expenses for 7-11 Wallis St, Beverly MA 01915

Annual Income & Unit Breakdown for 7-11 Wallis St, Beverly MA 01915

General Information for 7-11 Wallis St, Beverly MA 01915

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Financial Information for 7-11 Wallis St, Beverly MA 01915

Location Information for 7-11 Wallis St, Beverly MA 01915

Contact Information for 7-11 Wallis St, Beverly MA 01915

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