Ted Richard & Justin Repp Acquire Multifamily Property In Salem, MA For $1.02M
393 Essex Street, Salem, Massachusetts 01970, United States
$1,025,000
$182/SF
Building Size
5,626 SF
Asset Type
MultiFamily
Closing
Dec 29, 2021
AI
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.
Players
Salem MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.48%
Cash-on-Cash
-4.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93