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39 Endicott Street, Salem, ...

Eric Sullivan Sells Multifamily Property In Salem, MA For $2M With Broker Stephen Girolamo
SOLDMultiFamily

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

Stephen Girolamo

Horvath & Tremblay

Broker

$326.1M

vol

99 deals

Broker

Eric Sullivan

Seller

$5.2M

vol

2 deals

Seller

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