Updated Nov 14, 2025
Mid Atlantic Funding LLC Acquires Multifamily Portfolio In Salem VA From Bandy-King Properties LLC For $1.32M
800 Kerner Avenue, 806 Kerner Avenue, 810 Roanoke Boulevard & 815 Roanoke Boulevard
$1,324,575
Units
12
Asset Type
MultiFamily
Closing
Oct 29, 2025
About this deal
AI
The transaction involves a three-building, 12-unit multifamily portfolio located at 800 Kerner Avenue, 806 Kerner Avenue, 810 Roanoke Boulevard, and 815 Roanoke Boulevard in Salem, VA. The sale price for this property was $1,324,575, resulting in a price per unit of $110,381 with the intent for potential value-add renovations to the units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,324,575
- Units: 12
- Buyer: Mid Atlantic Funding, LLC
- Seller: Bandy-King Properties, L.L.C
- Market: Salem, VA
- Brokers: Clay Taylor & Briggs Cooper - Cushman & Wakefield
Cushman & Wakefield | Thalhimer facilitated the transaction, representing the parties involved in this sale. The properties are strategically located near key amenities such as the Salem Civic Center and Carilion Clinic Field, which may enhance their rental appeal.
On the Map
$1,324,575
MultiFamily
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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
11.98%
Cash-on-Cash
-3.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93