Updated Three-Unit
For Sale
$1,100,000
Pending
147 High St, Danvers, MA 01923
Reworked kitchens and baths complement flexible layouts, including a two-level upper residence and an occupied studio.
Property Size3,025 SF
Days on Market28
Property Features for 147 High St
General Information
Standard status
Pending
Size
3,025 SF
Total Parking Spaces
4
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,684
Building Details
Building Size
3,025 SF
Year Built
1900
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
The Lucci Witte Team
(401) 207-3329
Source:
Classifiedrealtygroup
Added: Sep 9
Changed: Oct 3
Last Checked: Oct 5 at 3:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This Danvers triplex contains three residential units with refreshed kitchens, bathrooms, and flooring throughout. Luxury vinyl plank flooring is installed across the apartments. The upper residence uses a townhouse-style, two-level arrangement with two full bathrooms, while a separate studio is occupied and producing income. Two other units are vacant and ready for occupancy.
The property is at 147 High St in Danvers, with downtown shops, restaurants, and daily conveniences a short distance away. Route 128, I-95, and other commuter routes provide regional access. The roof, windows, and siding were updated approximately 12 years ago, adding meaningful improvements to the building’s major exterior systems.
The property is at 147 High St in Danvers, with downtown shops, restaurants, and daily conveniences a short distance away. Route 128, I-95, and other commuter routes provide regional access. The roof, windows, and siding were updated approximately 12 years ago, adding meaningful improvements to the building’s major exterior systems.
Key Highlights
- Three‑unit residential property at 147 High St, Danvers, MA 01923
- Two vacant units ready for occupancy; separate studio is occupied
- Upper unit offers a two‑floor townhouse‑style layout with two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,960
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,019,200
$1.0M
Cap Rate 7%
$728,000
$728.0K
Cap Rate 9%
$566,222
$566.2K
Market Conditions
NOI Build-Up for 3,025 SF
Gross rent
$76.2K $25.20/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$72.8K $24.07/SF
− OpEx
−$21.8K −$7.22/SF
NOI
$51.0K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,019,200
Cap Rate 7%
$728,000
Cap Rate 9%
$566,222
Alternative Uses
Best Use
Multifamily LT 5
$728.0K
$637.0K – $849.3K
NOI $50,960 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$657.1K
$575.0K – $766.7K
NOI $45,999 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,355 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 01923, MA
27,987
Population
11,405
Households
2.5
Avg Household Size
46
Median Age
47%
College-Educated
95%
High-School Grad
13.2 sq mi
ZIP Area
2,120
Density / Sq Mi
$117,072
Median Household Income
$59,916
Median Earnings
$2,004
Median Rent
$611,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Reworked kitchens and baths complement flexible layouts, including a two-level upper residence and an occupied studio.
Where is this triplex located?
The property is located at 147 High St Danvers, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three‑unit residential property at 147 High St, Danvers, MA 01923; Two vacant units ready for occupancy; separate studio is occupied; Upper unit offers a two‑floor townhouse‑style layout with two full bathrooms
