1-7 Prince St & 48-54 Harbor St
$2,550,000
16
Beds
8
Baths
6,656
Sqft
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$2,550,000
16
Beds
8
Baths
6,656
Living Area
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Property Description
Turnkey 8-unit investment opportunity in Salem. The Property consists of two four-family buildings deeded together, totaling eight (8) 2-bedroom units, along with 10 off-street parking spaces. Heat and hot water are included in rent. The property has been extensively updated, featuring renovated kitchens and baths with granite countertops and stainless steel appliances, updated electrical, a new roof on the Harbor Street building, and new insulation in both attics and walls. Additional highlights include basement storage and a clean, well-maintained condition, making this an ideal opportunity for investors seeking a low-maintenance, stabilized asset with upside through future rent optimization. See attached for the OM with detailed financials.
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Highlights
- Heating: Oil
- Parking Spots: 10
- Property Type: 5-9 Family
- Total Rooms: 32
- Status: Active
- Levels: 2
- Property Class: Residential Income
- Stories: 2
- Year Built: 1960
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Additional Details
- Basement: Full, Interior Entry
- Flooring: Wood
- Lot Features: Corner Lot
- Roof: Shingle
- Total Number of Units: 8
- Year Built Source: Public Records
- Construction: Frame
- Foundation: Concrete Perimeter
- Road Frontage Type: Public
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: R3
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Amenities
- Community Features: Public Transportation
- Parking Features: Off Street
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Utilities
- Electric: 200+ Amp Service
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $1,432,100
- Tax Year: 2025
- Total Rent: $18,900
- Rental Fee Includes: Unit 1(Heat, Hot Water), Unit 2(Heat, Hot Water)
- Taxes: $16,240
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Listing information provided courtesy of Little & Co., REALTORS®.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.