Updated Dec 21, 2023
RE/MAX 360 Sells Multifamily Property In Salem, MA For $1.6M
8 1/2 Herbert St, Salem, Massachusetts, USA
$1,626,000
$308/SF
Building Size
5,265 SF
Asset Type
MultiFamily
Closing
Aug 3, 2020
About this deal
AI
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.
The multifamily sale at 8 1/2 Herbert St, Salem, Massachusetts, USA in Salem, Massachusetts sold for $1.6M in 2020. The building is 5,265 square feet, implying about 308 per square foot on the published price. Named participants on the 8 1/2 Herbert St, Salem, Massachusetts, USA sale are Kathleen Sullivan, Laurence Tamkin. This page is the Salem, Massachusetts file for the 8 1/2 Herbert St, Salem, Massachusetts, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Salem sit in the Market section below. Filter that Salem multifamily set by closing date to see what else sold near 8 1/2 Herbert St, Salem, Massachusetts, USA around 2020. Published consideration for 8 1/2 Herbert St, Salem, Massachusetts, USA is $1.6M, dated 2020. Cite this RE/MAX 360 Sells Multifamily Property In Salem, MA For $1.6M sale when underwriting similar multifamily product around Salem, Massachusetts.
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Salem MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.76%
Cash-on-Cash
-2.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93