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Newburyport Multifamily Property Sold For $1.1M With Broker Ann Marie Salmon Of Keller Williams

Property Image
SOLD
$1,100,000

Massachusetts

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MultiFamily2,525 SF
Sold 08/26/2024
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Property Image
SOLD

Newburyport Multifamily Property Sold For $1.1M With Broker Ann Marie Salmon Of Keller Williams

267 Merrimac Street

See Similar Deals
MultiFamily2,525 SF
Sold 08/26/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$435
Total Square Footage:2,525 SF
Transaction Type:Sale

A three-unit, multi-family home at 267 Merrimac Street in Newburyport, MA, was sold for $1,100,000. The property encompasses a total square footage of 2,525 and features updated kitchens, three separate heating systems, and off-street parking. Tenants are responsible for all utilities except water and sewer. The price per unit stands at $366,667, while the price per square foot is $436.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,100,000
  • Units: 3
  • Square Footage: 2,525
  • Price Per Unit: $366,667
  • Price Per Square Foot: $436
  • Address: 267 Merrimac Street, Newburyport, MA
  • Broker: Ann Marie Salmon - Keller Williams

The transaction was facilitated by broker Ann Marie Salmon, who represents Keller Williams, ensuring the successful completion of the sale in the multifamily market sector.

Players

Ann Marie Salmon
2 deals$2.4M volume(978) 852-7481
BROKER

Details

SOLD
IMAGE: Ann Marie Salmon DATE: 08/26/2024 ADDRESS: 267 Merrimac Street MARKET: Newburyport, MA ASSET TYPE: Multifamily BROKER: Ann Marie Salmon (@AnnMarieSalmon1) - Keller Williams (@KellerWilliamsRealty) SALE PRICE: $1,100,000 UNITS: 3 ~ PPU: $366,667 SF: 2,525 ~ PPSF: $436 NOTE: A three-unit, multi-family home at 267 Merrimac St in Newburyport sold for $1.1 million. The property features updated kitchens, three separate heating systems, and off-street parking, with tenants paying all utilities except water/sewer.

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
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