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
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.
Players
Salem MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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