Sold!
$1,200,000
7
Beds
4
Baths
3,521
Living Area
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Property Description
A true cash cow next to Salem State University, 1 mile to downtown Salem & Commuter Rail, 1/2 mile to Salem High School, HMLS elementary and local amenities. Seller has done extensive updating. All units have in-unit laundry and share generous 8 car parking. Three 2 bedroom units and a townhouse style 1 bedroom unit. Two of the 2 bedroom units are renovated (2023), one was updated (2019). This is entirely turn-key. Unit 1 rented at $2400, unit 2 at $2600, unit 3 at 2600 and a 1 bedroom rented at $2150. 117k gross annual income. Two car parking for each unit.
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Highlights
- Area: South Salem
- Property Class: Residential Income
- Total Rooms: 14
- Status: Closed
- Parking Spots: 8
- Property Type: 4 Family
- Year Built: 1890
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Additional Details
- Appliances: Utility Connections for Gas Range, Utility Connections for Electric Range, Utility Connections for Electric Dryer
- Construction: Frame
- Flooring: Tile, Laminate, Hardwood
- Lot Features: Level
- Roof: Shingle
- Year Built Details: Approximate
- Zoning: B1
- Basement: Full
- Exterior Features: Porch, Patio, Balcony
- Foundation: Stone
- Road Frontage Type: Public
- Total Number of Units: 4
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Bike Path, Conservation Area, Highway Access, House of Worship, Marina, Private School, Public School, T-Station, University
- Waterfront Features: Beach Front, Harbor, 1 to 2 Mile To Beach, Beach Ownership(Public)
- Parking Features: Paved Drive, Off Street, Assigned
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Utilities
- Electric: Circuit Breakers
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $705,800
- Compensation Based On: Net Sale Price
- Tax Year: 2023
- Total Rent: $9,750
- Buyer Agent Compensation: 2%
- Facilitator Compensation: 1%
- Taxes: $9,740
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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 Coldwell Banker Realty - Westwood.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
