Five-Unit Apartment
For Sale
$1,650,000
Pending
83 Holten St, Danvers, MA 01923
Well-maintained multifamily property with updated apartment finishes, central air, and a combination of garage and exterior parking.
Property Size3,809 SF
Days on Market53
Property Features for 83 Holten St
General Information
Standard status
Pending
Size
3,809 SF
Property subtype
5+ Family - 5+ Units Up/Down
Building Details
Building Size
3,809 SF
Year Built
2011
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Sep 10
Changed: Oct 31
Last Checked: Oct 30 at 3:10PM
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 IVerty Realty, LLC
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Investment Insights
Based on property information with market context.
Located at 83 Holten Street in Danvers, this 3,809-square-foot apartment building was constructed in 2011 and contains five one-bedroom residences. The property features stainless steel appliances, granite countertops, forced hot-air heating, and central air conditioning across the units. Two apartments have private garage parking, while eight additional exterior spaces serve the remaining residences.
The building offers a newer construction profile and has been maintained in clean condition. Its Danvers location provides access to major highways, shopping, restaurants, and other area amenities, supporting convenient day-to-day access for residents.
The building offers a newer construction profile and has been maintained in clean condition. Its Danvers location provides access to major highways, shopping, restaurants, and other area amenities, supporting convenient day-to-day access for residents.
Key Highlights
- Five one‑bedroom apartment units
- 3,809 square feet; built in 2011
- Stainless steel appliances and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,921
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,158,420
$1.2M
Cap Rate 7%
$827,443
$827.4K
Cap Rate 9%
$643,567
$643.6K
Market Conditions
NOI Build-Up for 3,809 SF
Gross rent
$109.7K $28.80/SF
− Vacancy
−$4.4K −$1.15/SF
EGI
$105.3K $27.65/SF
− OpEx
−$47.4K −$12.44/SF
NOI
$57.9K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,158,420
Cap Rate 7%
$827,443
Cap Rate 9%
$643,567
Alternative Uses
Best Use
Apartment 5plus
$827.4K
$724.0K – $965.4K
NOI $57,921 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,844 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property with updated apartment finishes, central air, and a combination of garage and exterior parking.
Where is this apartment building located?
The property is located at 83 Holten St Danvers, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Five one‑bedroom apartment units; 3,809 square feet; built in 2011; Stainless steel appliances and granite countertops
