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$9,500,000
Total Beds: 66 Total Baths: 44
Total Units: 22 SQFT: 41680
LOT size: 11.91 Acres
23 Prince St
Danvers, MA 01923
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Property Description

Spring Meadows Apartments consists of 3 buildings and contains a total of 22 units, comprised entirely of 3+Bedroom/1.5-Bathroom direct entry townhouse units. The Property has been well-maintained by current ownership and features ample off-street parking with 46 spaces and separate utilities with HVAC systems throughout and laundry hookups in each unit. Large units (approximately 2,000 square feet) offer spacious layouts with finished walkout basements and many units have been renovated with granite countertops and stainless-steel appliances. The Property offers upside through programmatic upgrades to the unrenovated units and by implementing additional improvements to modernize finishes and fixtures in the renovated units. Spring Meadows offers the opportunity to acquire a well-maintained investment property with upside in a desirable North Shore location. The subject property is ideal for a potential buyer looking for income growth and strong investment returns.

Property Details

Building Information

  • Total Units: 22
  • Total Floors: 8
  • Total Bedrooms: 66
  • Total Full Baths: 22
  • Total Half Baths: 22
  • Amenities: Bike Path, Highway Access, Park, Public School, Public Transportation, Shopping, Walk/Jog Trails
  • Basement Features: Full, Partially Finished

Financial

  • APOD Available: Yes
  • Gross Operating Income: 833040
  • Gross Expenses: 272763
  • Net Operating Income: 560277

Utilities

  • Electric Info: Individually Metered
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 4

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 4

Construction

  • Year Built: 1997
  • Type: 5+ Family - 5+ Units Side by Side
  • Foundation Info: Other (See Remarks)
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: None
  • Warranty: No

Other Information

  • MLS ID# 73391932
  • Last Updated: 06/21/25

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Map

Seller's Representative: Kelleher - Pentore Team, Horvath & Tremblay
Sub Agent Compensation: n/a
Buyer Agent Compensation: 1.25
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2025-06-21 03:05:00