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2 Pickman Street

Julius Sokol Acquires Multifamily Property In Salem, MA For $1.2M
SOLDMultiFamily

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

Ted Richard

J Barrett & Company

Broker

$11.6M

vol

6 deals

Broker

Julius Sokol

Buyer

$5.5M

vol

3 deals

Buyer

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