Coldwell Banker Realty - Gloucester Represents Buyer In $1.015M Multifamily Sale
SOLD
$1,015,000
Massachusetts
See Similar DealsMultiFamily4,309 SF
Sold 04/14/2022
SOLD
Coldwell Banker Realty - Gloucester Represents Buyer In $1.015M Multifamily Sale
4 Broad Street, Salem, Massachusetts 01970, United States
See Similar DealsMultiFamily4,309 SF
Sold 04/14/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$235
Total Square Footage:4,309 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$54,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,606.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,811.62
Annual Debt Service$57,739.41
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