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2 Oliver Street

Kathleen Murphy & Ted Richard Close $1.75M Multifamily Sale In Salem, MA
SOLDMultiFamily

Kathleen Murphy & Ted Richard Close $1.75M Multifamily Sale In Salem, MA

$1,750,000

$236/SF

Building Size

7,416 SF

Asset Type

MultiFamily

Closing

Feb 28, 2024

AI

A multifamily property located at 2 Oliver Street in Salem, MA, was sold for $1,750,000. The property spans 7,416 square feet, resulting in a price per square foot of $236. The buyer, Kathleen Murphy of Gibson Sotheby's International Realty, acquired the property, while the seller, Ted Richard of J Barrett & Company, facilitated the transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,750,000
  • Address: 2 Oliver Street
  • Market: Salem, MA
  • Buyer's Representative: Kathleen Murphy - Gibson Sotheby's International Realty
  • Seller's Representative: Ted Richard - J Barrett & Company

Kathleen Murphy of Gibson Sotheby's International Realty served as the buyer's representative in the sale, while Ted Richard of J Barrett & Company represented the seller. The transaction, which took place on 02/28/2024, involved the exchange of a multifamily property at a significant market value in Salem, MA.

Players

Ted Richard

J Barrett & Company

Broker

$11.6M

vol

6 deals

Broker

Market 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

9.06%

Cash-on-Cash

-2.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93