Sold!
$790,000
9
Beds
3
Baths
3,234
Living Area
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Property Description
Attention Investors take a look at this rare opportunity located at 18 Peabody Street in downtown Salem. This oversized brick 3-story residential building boasts a total square footage of 4,312 with a rentable square footage of 3,234. The property consists of three (3) Three-bedroom stacked units. All units are separately metered for both gas heat, forced air and electrical. This opportunity includes $180,000 in State Historic Tax Credit awards as well as Federal Historic Tax Credits equal to 20% of the renovation costs. The tax credits directly correlate with final renovation costs and required compliance with Massachusetts Historic design standards. 18 Peabody Street is ideally located in downtown Salem and in close proximity to Lafayette Street and Derby Street which is the main corridor for downtown. The property will be delivered vacant making this an ideal situation for a developer/investor to commence work immediately.
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Highlights
- Property Class: Residential Income
- Total Rooms: 15
- Status: Closed
- Property Type: 3 Family - 3 Units Up/Down
- Year Built: 1915
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Additional Details
- Appliances: Utility Connections for Electric Range
- Construction: Frame, Brick
- Foundation: Concrete Perimeter, Block
- Lot Features: Level
- Roof: Rubber
- Year Built Details: Approximate
- Zoning: R3
- Basement: Partial
- Flooring: Tile, Hardwood
- Foundation Area: 1078
- Road Frontage Type: Public
- Total Number of Units: 3
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Laundromat, Public School, T-Station, University
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Utilities
- Electric: 150 Amp Service
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $573,700
- Compensation Based On: Net Sale Price
- Taxes: $7,177
- Buyer Agent Compensation: 2%
- Tax Year: 2023
- Total Rent: $2,700
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Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of Palmer Properties & Real Estate, Inc..
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
