Take advantage of this rare opportunity to own this North Shore seaside home in the heart of Beverly, MA. You can convert this magnificent home back to a single-family house, become an owner-occupier and take in the ocean views each day, or reap the rewards of this cash-positive and fully leased property. The house is currently a three-family residence that is fully leased through August 2015. This property is cash positive boasting a debt coverage ratio of 1.21 assuming a 4% interest rate with 25% down payment – that means net income is 21% more than the mortgage payment! This also equates to a capitalization rate (cap rate) of 5.8%. If you are not looking for a pure investment as much as you are looking for a seaside manor to call you home, but want someone else to pay the mortgage, look no further. Every floor of this house has full ocean views, and there are two more units that will provide substantial income to help pay your mortgage!
Unique opportunity........... panoramic, unobstructed ocean/sunrise views from this magnificent 3 family colonial overlooking beautifully maintained oceanside park and sandy Dane Street Beach. Lots of character...... conscientiously maintained........ Within walking distance of downtown restaurants, shops and commuter rail to Boston.
Year
Property tax
Land + Additions
Assessment*
2023
$12,466 (+10.0%)
$601,600 + $505,500
$1,107,100
2022
$11,329 (−2.0%)
$437,300 + $493,600
$930,900
2021
$11,558 (+7.2%)
$416,500 + $493,600
$910,100
2020
$10,784 (+3.6%)
$379,500 + $461,000
$840,500
2019
$10,411 (+3.4%)
$337,800 + $450,300
$788,100
2018
$10,067 (+7.2%)
$351,700 + $388,500
$740,200
2017
$9,395 (+3.7%)
$319,300 + $338,600
$657,900
2016
$9,057 (+2.0%)
$319,300 + $310,100
$629,400
2015
$8,881 (−0.3%)
$319,300 + $310,100
$629,400
2014
$8,911 (+3.8%)
$319,300 + $310,000
$629,300
2013
$8,584 (+5.2%)
$319,300 + $310,000
$629,300
2012
$8,162 (+4.1%)
$319,300 + $310,000
$629,300
2011
$7,839 (−2.6%)
$319,300 + $312,400
$631,700
2010
$8,049 (+3.6%)
$370,200 + $321,900
$692,100
2009
$7,767
$393,300 + $321,900
$715,200
Tax history for 102 Lothrop St
Year
Property tax
Land + Additions
Assessment*
2023
$12,466 (+10.0%)
$601,600 + $505,500
$1,107,100
2022
$11,329 (−2.0%)
$437,300 + $493,600
$930,900
2021
$11,558 (+7.2%)
$416,500 + $493,600
$910,100
2020
$10,784 (+3.6%)
$379,500 + $461,000
$840,500
2019
$10,411 (+3.4%)
$337,800 + $450,300
$788,100
2018
$10,067 (+7.2%)
$351,700 + $388,500
$740,200
2017
$9,395 (+3.7%)
$319,300 + $338,600
$657,900
2016
$9,057 (+2.0%)
$319,300 + $310,100
$629,400
2015
$8,881 (−0.3%)
$319,300 + $310,100
$629,400
2014
$8,911 (+3.8%)
$319,300 + $310,000
$629,300
2013
$8,584 (+5.2%)
$319,300 + $310,000
$629,300
2012
$8,162 (+4.1%)
$319,300 + $310,000
$629,300
2011
$7,839 (−2.6%)
$319,300 + $312,400
$631,700
2010
$8,049 (+3.6%)
$370,200 + $321,900
$692,100
2009
$7,767
$393,300 + $321,900
$715,200
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
5
Baths
3
Stories
2
Lot width
—
Lot depth
—
Lot size
5,227 Sq. Ft.
Year renovated
—
Sq. Ft.
2,744
Year built
1900
Style
Multi-Family (2-4 Unit)
County
Essex County
APN
4182534
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 19, 2023.
R6
One Family And Two Family Residential District
The R-6 One-Family and Two-Family District is established to provide for single-family and two-family residences at urban density on small-sized lots minimum of 6,000 sq ft. Related recreational, agricultural, and educational facilities are allowed under special conditions.
Permitted uses
Include but are not limited to:
Agriculture
Housing-Single unit
Housing-Multiple units
Museum / gallery
Property details
Parking
Parking Information
Has Garage
Has Open Parking
# of Garage Spaces: 1
# of Covered Spaces: 1
Parking Spaces: 4
Parking Features: Off Street, Paved
Interior
Bathroom Information
# of Bathrooms (Full): 3
Basement Information
Basement: Full, Bulkhead, Concrete
Laundry Information
Laundry Features: Gas Dryer Hookup
Fireplace Information
Has Fireplace
# of Fireplaces (Total): 1
Fireplace Features: Wood Burning
Interior Features
# of Rooms (Total): 13
Window Features: Picture Window, Insulated Windows
Flooring: Hardwood, Wood, Stone/Ceramic Tile
Interior Features: Ceiling Fan(s), Storage, Walk-In Closet(s), Bathroom With Tub, Kitchen, Living RM/Dining RM Combo, Office/Den, Living Room
Unit #1 Information
# of Levels: 1
# of Floors: 1
Lease: Y
Unit #2 Information
# of Levels: 1
# of Floors: 2
Lease: Y
Unit #3 Information
# of Levels: 1
# of Floors: 3
Lease: Y
Exterior
Building Information
Building Area (Total): 2,758
Foundation Details: Granite
Construction Materials: Frame
Stories (Total): 3
Year Built Source: Public Records
Year Built Details: Approximate
Exterior Features
Fencing: Fenced
Roof: Shingle
Patio And Porch Features: Enclosed, Deck - Roof, Patio
Exterior Features: Sprinkler System, Stone Wall
Property Information
PropertySubType: 3 Family - 3 Units Up/Down
Green Energy Efficient : Thermostat
Lot Information
Lot Size (Acres): 0.12
ViewYN: Has View
View: Scenic View(s)
WaterfrontYN: Yes
Road Frontage Type: Public
Financial
Tax Information
Tax Annual Amount: $8,881
Tax Year: 2015
Utilities
Utility Information
Utilities: for Gas Range, for Gas Oven, for Gas Dryer