Mid Atlantic Funding LLC Acquires Multifamily Portfolio In Salem VA From Bandy-King Properties LLC For $1.32M

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.