23 Prince St, Danvers, MA 01923
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$9,500,000
22 Unit
66 Beds
44 Baths
41680 SQFT
11.91 Acre

Property Description

Spring Meadows Apartments consists of 3 buildings and contains a total of 22 units, comprised entirely of 3+Bedroom/1.5-Bathroom direct entry townhouse units. The Property has been well-maintained by current ownership and features ample off-street parking with 46 spaces and separate utilities with HVAC systems throughout and laundry hookups in each unit. Large units (approximately 2,000 square feet) offer spacious layouts with finished walkout basements and many units have been renovated with granite countertops and stainless-steel appliances. The Property offers upside through programmatic upgrades to the unrenovated units and by implementing additional improvements to modernize finishes and fixtures in the renovated units. Spring Meadows offers the opportunity to acquire a well-maintained investment property with upside in a desirable North Shore location. The subject property is ideal for a potential buyer looking for income growth and strong investment returns.

Property Details tap to expand

Building Information

  • Total Units: 22
  • Total Floors: 8
  • Total Bedrooms: 66
  • Total Full Baths: 22
  • Total Half Baths: 22
  • Amenities: Bike Path, Highway Access, Park, Public School, Public Transportation, Shopping, Walk/Jog Trails
  • Basement Features: Full, Partially Finished

Financial

  • APOD Available: Yes
  • Gross Operating Income: 833040
  • Gross Expenses: 272763
  • Net Operating Income: 560277

Utilities

  • Electric Info: Individually Metered
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 4

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 4

Construction

  • Year Built: 1997
  • Type: 5+ Family - 5+ Units Side by Side
  • Foundation Info: Other (See Remarks)
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: None
  • Warranty: No

Other Information

  • MLS ID# 73391932
  • Last Updated: 06/21/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
06/21/2025Active$9,500,000$228MLSPIN
06/17/2025New$9,500,000$228MLSPIN

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Seller's Representative: Kelleher - Pentore Team, Horvath & Tremblay
Sub Agent Compensation: n/a
Buyer Agent Compensation: 1.25
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2025-06-21 03:05:00