Updated Dec 20, 2023
Cudmore & Associates Acquires Salem Multifamily Property For $2.8M
44-50 Ward St, Salem, Massachusetts, USA
$2,800,000
$211/SF
Building Size
13,266 SF
Asset Type
MultiFamily
Closing
Nov 24, 2021
About this deal
AI
Located at 44-50 Ward St in Salem, MA, this multifamily property was recently sold in a closed transaction. The sale was facilitated by Mary Iapicca from North Shore Realty Pros, representing the seller, and Cudmore & Associates from RE/MAX On the River, Inc., representing the buyer. The property spans 13,266 square feet and was sold for a total price of $2,800,000, resulting in a price per square foot of $211.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,800,000
One of the key figures in this transaction was Mary Iapicca from North Shore Realty Pros, who represented the seller. On the other side, Cudmore & Associates from RE/MAX On the River, Inc. served as the buyer's representative. Their expertise and negotiation skills played a crucial role in securing the deal.
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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93