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RE/MAX 360 Sells Multifamily Property In Salem, MA For $1.6M

Property Image
SOLD
$1,626,000
Kathleen Sullivan
Laurence Tamkin

Massachusetts

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MultiFamily5,265 SF
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Property Image
SOLD

RE/MAX 360 Sells Multifamily Property In Salem, MA For $1.6M

8 1/2 Herbert St, Salem, Massachusetts, USA

See Similar Deals
MultiFamily5,265 SF
Sold
Kathleen Sullivan
Laurence Tamkin
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$308
Total Square Footage:5265 SF
Transaction Type:Sale

The multifamily property located at 8-8 1/2 Herbert St in Salem, MA has been sold for a total price of $1,626,000. The property spans across 5,265 square feet and was sold at a price per square foot of $309.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,626,000
  • Market: Salem, MA

Kathleen Sullivan from RE/MAX 360 represented the seller in this transaction, while Laurence Tamkin from Boston Commercial Realty acted as the buyer's representative.

Players

Laurence Tamkin
Laurence Tamkin
8 deals$14.7M volume
BROKER
Kathleen Sullivan
Kathleen Sullivan
3 deals$4.8M volume
BROKER

Details

SOLD
IMAGE: Kathleen Sullivan & Laurence Tamkin DATE: 08/03/2021 ADDRESS: 8-8 1/2 Herbert St MARKET: Salem, MA ASSET TYPE: Multifamily SELLER'S REP: Kathleen Sullivan - RE/MAX 360 BUYER'S REP: Laurence Tamkin - Boston Commercial Realty SALE PRICE: $1,626,000 SF: 5,265 ~ PPSF: $309

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$86,719.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,776.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,708.07
Annual Debt Service$92,496.83