Updated Dec 4, 2024
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
$1,600,000
$281/SF
MultiFamily
View full map
Players
Salem MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Sara Pouladian to view all their deals.
Browse Salem multifamily sales on Traded.
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