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
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