7-11 Wallis St, Beverly, MA 01915
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$1,975,000
4 Unit
5 Beds
6 Baths
6722 SQFT
0.10 Acre

Property Description

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.

Property Details tap to expand

Building Information

  • Total Units: 4
  • Total Floors: 7
  • Total Bedrooms: 5
  • Total Full Baths: 3
  • Total Half Baths: 3
  • Total Fireplaces: 1
  • Amenities: Bike Path, Conservation Area, Golf Course, Highway Access, House of Worship, Laundromat, Marina, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, Stables, Swimming Pool, Tennis Court, T-Station, University, Walk/Jog Trails
  • Basement Features: Finished, Full, Interior Access, Other (See Remarks), Sump Pump
  • Common Interior Features: Bathroom with Shower Stall, Bathroom With Tub, Crown Molding, Internet Available - Fiber-Optic, Stone/Granite/Solid Counters, Storage, Tile Floor, Upgraded Cabinets, Upgraded Countertops
  • Common Appliances: Dryer, Washer, Washer Hookup
  • Common Cooling: Central Air

Financial

  • APOD Available: Yes
  • Expenses Source: Estimated
  • Gross Operating Income: 126310
  • Gross Expenses: 26850
  • Electric Expenses: 795
  • Water/Sewer: 1250
  • INSC: 9600
  • Net Operating Income: 98910

Utilities

  • Utility Connections: Washer Hookup
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1860
  • Type: 4 Family
  • Foundation Info: Fieldstone
  • Roof Material: Rubber
  • Flooring Type: Hardwood, Tile
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73299930
  • Last Updated: 10/13/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
10/12/2024Active$1,975,000$294MLSPIN
10/12/2024Active$1,975,000$293MLSPIN
10/08/2024New$1,975,000$294MLSPIN
10/08/2024New$1,975,000$293MLSPIN

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Seller's Representative: Jarvid Cortes, Keller Williams Realty Evolution
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-10-13 12:39:00