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$ 1,999,000
Est. payment | /mo
20 Beds
6 Baths
7,044 SqFt
$ 1,999,000
Est. payment | /mo
20 Beds
6 Baths
7,044 SqFt
Key Details
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,044 sqft
Price per Sqft $283
MLS Listing ID 73575709
Bedrooms 20
Full Baths 6
Year Built 1915
Annual Tax Amount $18,974
Tax Year 2026
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type 5-9 Family
Property Description
NEW PRICE!!! 9.81% CAP RATE | $250K+ GROSS INCOME | $196K+ NOI | 6 UNITS / 20 BEDROOMS! Exceptional opportunity to acquire a strong cash-flowing 6-unit multifamily in desirable Salem. Featuring an attractive unit mix of two spacious 4-bedroom units and four 3-bedroom units, the property generates approximately $250K in gross annual income with an estimated $196K NOI. Additional income from on-site laundry and storage, with further upside through future rent optimization and operational efficiencies. Convenient access to Boston via MBTA Commuter Rail and close to Salem's vibrant downtown, waterfront, restaurants, shopping, and entertainment. Newly repositioned at $1.999M, offering a compelling 9.81% cap rate, strong in-place income, immediate cash flow, and long-term upside potential.
Location
State MA
County Essex
Zoning R3
Direction Located between Lafayette St and Salem St
Rooms
Basement Unfinished
Exterior
Roof Type Shingle
Total Parking Spaces 6
Garage No
Building
Lot Description Corner Lot
Story 3
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by Realty ONE Group Cosmopolitan
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