We just closed on a 10 unit deal in Salem for $515,000. The property sold at a 7.5% cap rate, $66 per square foot, and $51,500 per unit. The property was well maintained by the seller and had a stable tenant base.
Bernard Gehret of Joseph Bernard Investment Real Estate represented the seller, and Angela Pernisco did a fantastic job representing the buyer. She works at Knipe Realty.