Ted Richard & Justin Repp Acquire Multifamily Property In Salem, MA For $1.02M
SOLD
$1,025,000
Massachusetts
See Similar DealsMultiFamily5,626 SF
Sold 12/29/2021
SOLD
Ted Richard & Justin Repp Acquire Multifamily Property In Salem, MA For $1.02M
393 Essex Street, Salem, Massachusetts 01970, United States
See Similar DealsMultiFamily5,626 SF
Sold 12/29/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$182
Total Square Footage:5,626 SF
Transaction Type:Sale
The multifamily property located at 393 Essex St in Salem, MA has been sold for $1,025,000. The property spans across 5,626 square feet, resulting in a price per square foot of $182.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,025,000
- Address: 393 Essex St
- Market: Salem, MA
Ted Richard from J. Barrett & Company represented the buyer in this sale, while Justin Repp from Keller Williams Realty represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$54,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,641.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,859.02
Annual Debt Service$58,308.28
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