Updated Dec 18, 2023
Coldwell Banker Realty - Gloucester Represents Buyer In $1.015M Multifamily Sale
4 Broad Street, Salem, Massachusetts 01970, United States
$1,015,000
$235/SF
Building Size
4,309 SF
Asset Type
MultiFamily
Closing
Apr 13, 2022
About this deal
AI
The multifamily property located at 4 Broad St in Salem, MA has been sold. The transaction took place on April 14, 2022. The property spans a total of 4,309 square feet. The sale price for the asset was $1,015,000, resulting in a price per square foot of $236.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,015,000
- Address: 4 Broad St, Salem, MA
- Market: Salem, MA
The buyer was represented by Karen Herrmann from Coldwell Banker Realty, located in Gloucester. The seller was represented by Dick Mckinley from Sagan Harborside Sotheby's International Realty. Both brokers played a crucial role in facilitating the transaction.
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
15.63%
Cash-on-Cash
-4.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93