Updated Sep 9, 2024
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
About this deal
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.
The multifamily sale at 393 Essex Street, Salem, Massachusetts 01970, United States in Salem, Massachusetts sold for $1M in 2021. The building is 5,626 square feet, implying about 182 per square foot on the published price. Justin Repp, Ted Richard, J Barrett & Company, Keller Williams Realty appear on the sale alongside J Barrett & Company, Keller Williams Realty. This page is the Salem, Massachusetts file for the 393 Essex Street, Salem, Massachusetts 01970, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Salem sit in the Market section below. Filter that Salem multifamily set by closing date to see what else sold near 393 Essex Street, Salem, Massachusetts 01970, United States around 2021. Published consideration for 393 Essex Street, Salem, Massachusetts 01970, United States is $1M, dated 2021. Cite this Ted Richard & Justin Repp Acquire Multifamily Property In Salem, MA For $1.02M sale when underwriting similar multifamily product around Salem, Massachusetts.
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
15.48%
Cash-on-Cash
-4.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93