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Akinyemi Dosumu's Coldwell Banker Realty Acquires Multifamily Property In Salem, MA For $1.08M

Property Image
SOLD
$1,080,000

Massachusetts

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MultiFamily4,095 SF
Sold 12/10/2021
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Property Image
SOLD

Akinyemi Dosumu's Coldwell Banker Realty Acquires Multifamily Property In Salem, MA For $1.08M

22 Prince St, Salem, Massachusetts 01970, United States

See Similar Deals
MultiFamily4,095 SF
Sold 12/10/2021
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$263
Total Square Footage:4,095 SF
Transaction Type:Sale

Located at 22-24 Prince St in Salem, MA, this multifamily property was recently sold. The transaction took place on December 10, 2021, with a sale price of $1,080,000. The property spans across 4,095 square feet, resulting in a price per square foot of $264. Francesca Little represented the seller as the seller's representative from Little & Co., REALTORS, while Akinyemi Dosumu represented the buyer as the buyer's representative from Coldwell Banker Realty - Beverly.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $1,080,000
  • Address: 22-24 Prince St, Salem, MA

Francesca Little, from Little & Co., REALTORS, served as the seller's representative in this transaction. Akinyemi Dosumu, from Coldwell Banker Realty - Beverly, represented the buyer. These individuals played key roles in facilitating the successful sale of the property.

Players

Francesca Little
7 deals$15.1M volume(978) 973-7277
BROKER

Details

SOLD
IMAGE: Francesca Little DATE: 12/10/2021 ADDRESS: 22-24 Prince St MARKET: Salem, MA ASSET TYPE: Multifamily BUYER'S REP: Akinyemi Dosumu - Coldwell Banker Realty - Beverly SELLER'S REP: Francesca Little - Little & Co., REALTORS SALE PRICE: $1,080,000 SF: 4,095 ~ PPSF: $264

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$57,600.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,837.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,119.75
Annual Debt Service$61,437.01