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4 Butler Ave 5 Unit Apartment Building $1,499,999 ($300,000/Unit) 5.29% Cap Rate Danvers, MA 01923
Investment Highlights
- Walk to downtown, resturants, coffee shops, and public transportation
- 9 off street parking spots for tenants and guests
- 3 of the 5 units have been renovated
Executive Summary
Exceptional investment opportunity! This well-maintained 5-family property offers 7 bedrooms+ and 5 bathrooms across multiple units, providing a strong foundation for steady rental income or multi-generational living. Located in a prime area, the property is close to shops, restaurants, transit & local amenities—highly attractive to prospective tenants. Each unit benefits from dedicated off-street parking. Utilities are fully separated, placing operating costs directly with tenants and maximizing net returns. The basement features a co-operated laundry setup for tenants, creating additional convenience and income potential. This property is low maintenance and turnkey. Brand new back stairs/deck. Many upgrades in varying units. Great tenants. Whether you’re expanding your portfolio or seeking a reliable income-producing asset, this property delivers consistent demand and exceptional investment performance.
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $1,499,999 | Apartment Style | Low-Rise |
| Price Per Unit | $300,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 5.29% | Building Size | 4,082 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1900 |
| Zoning | R1 | ||
| Price | $1,499,999 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.22 AC |
| Building Size | 4,082 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
| Zoning | R1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Basement
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Gas Range
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $1,925 | - |
| 2+1 | 2 | $1,800 | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | DANV-000043-000000-000151 | Total Assessment | $919,000 (2025) |
| Land Assessment | $337,700 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $581,300 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
DANV-000043-000000-000151
Land Assessment
$337,700 (2025)
Improvements Assessment
$581,300 (2025)
Total Assessment
$919,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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4 Butler Ave
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