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
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