Julius Sokol Acquires Multifamily Property In Salem, MA For $1.2M
2 Pickman Street
$1,200,000
$369/SF
Building Size
3,246 SF
Asset Type
MultiFamily
Closing
Nov 27, 2023
AI
The multifamily property located at 2 Pickman Street in Salem, MA has been sold in a recent transaction. The property consists of 6 units with a total area of 3,246 square feet. The sale price for this asset was $1,200,000, resulting in a per unit price of $200,000. The price per square foot for this property is $370.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Address: 2 Pickman Street, Salem, MA
- Market: Salem, MA
- Units: 6
- Price Per Unit: $200,000
- Square Footage: 3,246
- Price Per Square Foot: $370
Julius Sokol has purchased the property from Jeffrey Barrows. Steve Girolamo from Horvath & Tremblay and Nicholas Zolotas from Herrick Lutts Realty Partners represented Julius Sokol as the buyer's representatives. Ted Richard from J Barrett & Company acted as the seller's representative in this transaction.
Players
Salem 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93