Jay Goldberg's Spire Investments Acquires Multifamily Property In Salem, MA For $6.1M
SOLD
$6,100,000
Massachusetts
See Similar DealsMultiFamily8,227 SF
Sold 05/14/2021
SOLD
Jay Goldberg's Spire Investments Acquires Multifamily Property In Salem, MA For $6.1M
248 Washington St, Salem, Massachusetts, USA
See Similar DealsMultiFamily8,227 SF
Sold 05/14/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$741
Total Square Footage:8,227 SF
Transaction Type:Sale
The multifamily property located at 248 & 296-300 Washington St. in Salem, MA has been sold for a total price of $6,100,000. The transaction took place on May 14, 2021. The property consists of 35 units, and the buyer of the property is Jay Goldberg of Spire Investments. The sale was facilitated by brokers Bill Little and Francesca Little.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,100,000
- Units: 35
- Buyer: Jay Goldberg - Spire Investments
- Brokers: Bill Little & Francesca Little
Jay Goldberg of Spire Investments acted as the buyer in this transaction. The brokers involved in the deal were Bill Little and Francesca Little.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$325,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,672.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,917.11
Annual Debt Service$347,005.34
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