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6 Horton Street

Michael Selbst Of Gibson Sotheby's International Realty Represents Buyer In Salem Multifamily Sale For $1.005M
SOLDMultiFamily

Michael Selbst Of Gibson Sotheby's International Realty Represents Buyer In Salem Multifamily Sale For $1.005M

6 Horton Street

$1,005,000

$293/SF

Building Size

3,420 SF

Asset Type

MultiFamily

Closing

Jul 19, 2024

AI

A three-family property located at 6 Horton Street in Salem, MA, has been sold for $1,005,000. The asset comprises 3,420 square feet and offers 8 bedrooms and 3 bathrooms. The structure was built in 1900 and includes features such as updated kitchens and baths, along with a large fenced yard, situated in a quiet neighborhood close to Salem Hospital and downtown.

Summary of transaction details:

Michael Selbst represented the buyer in this transaction while Justin Repp represented the seller. Each broker is affiliated with prominent real estate firms, aiding in the successful completion of this multifamily property sale.

Players

Justin Repp

Keller Williams Realty

Broker

$4.1M

vol

4 deals

Broker

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

15.78%

Cash-on-Cash

-4.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93