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19 Beach Ave Salem, MA 0197...

Andrew Jackson Sells Multifamily Property In Salem, MA For $1.65M. Buyer's Rep: Rebecca Pappas. Seller's Rep: Nicholas Zolotas & Paul Herrick - Herrick Lutts Realty Partners
SOLDMultiFamily

Andrew Jackson Sells Multifamily Property In Salem, MA For $1.65M. Buyer's Rep: Rebecca Pappas. Seller's Rep: Nicholas Zolotas & Paul Herrick - Herrick Lutts Realty Partners

19 Beach Ave Salem, MA 01970, USA

$1,650,000

$251/SF

Building Size

6,561 SF

Asset Type

MultiFamily

Closing

Jul 18, 2023

AI

The multifamily property located at 19 Beach Avenue in Salem, MA has been sold for a price of $1,650,000. The property consists of 2 units, with a price per unit of $825,000. The total square footage of the property is 6,561, resulting in a price per square foot of $251.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,650,000
  • Address: 19 Beach Avenue, Salem, MA
  • Units: 2
  • Price Per Unit: $825,000
  • Total Square Footage: 6,561
  • Price Per Square Foot: $251

The seller of the property is Andrew Jackson, with Nicholas Zolotas and Paul Herrick from Herrick Lutts Realty Partners acting as the seller's representatives. On the other hand, the buyer's representative is Rebecca Pappas.

Players

Nicholas Zolotas

Herrick Lutts Realty Partners

Broker

$93.1M

vol

33 deals

Broker

Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.61%

Cash-on-Cash

-2.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93