Eric Sullivan Sells Multifamily Property In Salem, MA For $2M With Broker Stephen Girolamo
39 Endicott Street, Salem, Massachusetts 01970, United States
$2,000,000
$547/SF
Building Size
3,656 SF
Asset Type
MultiFamily
Closing
Mar 4, 2022
AI
The multifamily property located at 39 Endicott St in Salem, MA has been sold for a price of $2,000,000. The property consists of 8 units, with an average price per unit of $250,000. The total square footage of the property is 3,656, resulting in a price per square foot of $547.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 39 Endicott St, Salem, MA
- Market: Salem, MA
The seller, Eric Sullivan, represented by Sullivan Capital, successfully closed the transaction. The deal was facilitated by the broker, Stephen Girolamo, from Horvath & Tremblay.
Players
Salem MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93