Side-by-Side Duplex in
24 Franklin Place Beverly, MA 01915
24 Franklin Place, Beverly, MA, 01915
$800,000
For Sale
$800,000
Two side-by-side units offer 2 bedrooms and 1.5 baths each on an end lot.
Property Size2,176 SF
Price / SF$367.65
Days on Market139
Property Features for 24 Franklin Place
General Information
- Standard status
- Active
- Size
- 2,176 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Side by Side
Building Details
- Year Built
- 1985
Listing agency
Engel & Volkers By the Sea
(978) 865-1168
Listed by
Victor Paulino · License #9531133
(978) 865-1168
Source
Compass
Added: Mar 5 Updated: Jul 21 at 3:31PM Checked: Jul 21 at 3:31PM
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 Engel & Volkers By the Sea
Investment Insights
Based on property information with market context.
This duplex-style multifamily property consists of two side-by-side units on an end lot. Each unit is laid out with 2 bedrooms and 1.5 bathrooms, providing a practical configuration for residential income.
The property is located in downtown Beverly and is described as being near local beaches, the MBTA Commuter Rail, and downtown restaurants and bars.
The offering is presented for sale with opportunity for updates and value-add improvements.
The property is located in downtown Beverly and is described as being near local beaches, the MBTA Commuter Rail, and downtown restaurants and bars.
The offering is presented for sale with opportunity for updates and value-add improvements.
Key Highlights
- Two side‑by‑side multifamily units on an end lot
- Each unit has 2 bedrooms and 1.5 baths
- Wood and tile flooring, with electric dryer hookup and washer hookup
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.8k | $25.20 |
| − Vacancy | −$2.5k | −$1.13 |
| EGI | $52.4k | $24.07 |
| − OpEx | −$15.7k | −$7.22 |
| NOI | $36.7k | $16.85 |
2,176 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$523.7K
$458.2K – $611.0K
NOI $36,657 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$472.7K
$413.6K – $551.5K
NOI $33,089 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,173 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two side-by-side units offer 2 bedrooms and 1.5 baths each on an end lot.
Where is this duplex located?
The property is located at 24 Franklin Place Beverly, MA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two side‑by‑side multifamily units on an end lot; Each unit has 2 bedrooms and 1.5 baths; Wood and tile flooring, with electric dryer hookup and washer hookup
