Jordan Ryan Acquires Lodging House In Salem For $2.36M With Broker Stephen Girolamo
SOLD
$2,360,000
Massachusetts
See Similar DealsMultiFamily4,368 SF
Sold 08/16/2024
SOLD
Jordan Ryan Acquires Lodging House In Salem For $2.36M With Broker Stephen Girolamo
2-4 Howard Street
See Similar DealsMultiFamily4,368 SF
Sold 08/16/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$540
Total Square Footage:4,368 SF
Transaction Type:Sale
The asset involved in the transaction is a lodging house located at 2-4 Howard Street in Salem, MA. The property comprises 11 units and has a total square footage of 4,368. The sale price was $2,360,000, resulting in a price per unit of $214,545 and a price per square foot of $540.
Summary of transaction details:
- Property Type: Lodging House
- Transaction Amount: $2,360,000
- Address: 2-4 Howard Street
- Market: Salem, MA
- Units: 11
- Square Footage: 4,368
- Price Per Unit: $214,545
- Price Per Square Foot: $540
- Buyer: Jordan Ryan
- Seller: Dan Botwinik
- Broker: Stephen Girolamo - Horvath & Tremblay
The key individuals involved in this transaction include Jordan Ryan, who acted as the buyer, and Dan Botwinik, the seller. The transaction was facilitated by broker Stephen Girolamo from Horvath & Tremblay, representing the seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,384.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,187.60
Annual Debt Service$134,251.25
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