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21 Pleasant Street

Updated Dec 4, 2024

Alex Rice Acquires Multifamily Property In Salem, MA For $1.6M
SOLDMultiFamily

Alex Rice Acquires Multifamily Property In Salem, MA For $1.6M

21 Pleasant Street

$1,600,000

$281/SF

Building Size

5,675 SF

Asset Type

MultiFamily

Closing

Dec 20, 2023

About this deal

AI

North Shore Realty Advisors Inc is pleased to announce the recent sale of 19-21 Pleasant Street, a multifamily property located within the historic Salem Commons district in Salem, MA. The property consists of 5 units, with a total square footage of 5,675. The sale price for the property was $1,600,000, resulting in a price per unit of $320,000 and a price per square foot of $282. The property was sold by Andrew Stevens, with representation from Dan Pouladian & Sara Pouladian of Northshore Realty Advisors.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,600,000
  • Address: 21 Pleasant Street, Salem, MA
  • Market: Salem, MA
  • Buyer: Alex Rice
  • Seller: Andrew Stevens
  • Seller's Rep: Dan Pouladian & Sara Pouladian - Northshore Realty Advisors
  • Units: 5
  • Price per Unit: $320,000
  • Total Square Footage: 5,675
  • Price per Square Foot: $282

Alex Rice from Choose Boston served as the buyer and agent for this transaction. It was a pleasure working with Alex on this smooth deal, and we congratulate all parties involved.

On the Map

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$1,600,000

$281/SF

MultiFamily

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Players

Dan Pouladian

Northshore Realty Advisors

Broker

$320.2M

vol

74 deals

Broker

Andrew Stevens

Seller

$7.1M

vol

3 deals

Seller

Salem MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $281 per square foot on a published $1.6M for 5,675 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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