Sold!
$2,000,000
3
Baths
4,695
Living Area
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Property Description
Discover an exciting investment opportunity in the heart of historic Salem, MA with this twenty one (21) room rooming house. Perfectly situated in a prime location, this property offers a unique chance to own a meticulously maintained property that has been owned by the same family for over 40 years. Using 2023 numbers this is being offered at an 8% cap rate with projected rents for 2024 bringing to a 9.3% cap rate. A 5% vacancy has already been factored into the gross revenue.**THIS PROPERTY IS TO BE SOLD WITH 108-122 LAFAYETTE ST AS A PACKAGE MLS# 73264543**. Landlord is responsible for all utilities including heat/hw, electric and water/sewer. Seller is willing to explore a seller financing deal for the right buyer. Please see attached for detailed incomes and expenses. Rent roll changes weekly but can be provided upon request.
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Highlights
- Property Class: Residential Income
- Total Rooms: 21
- Status: Closed
- Property Type: 5+ Family - Rooming House
- Year Built: 1900
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Additional Details
- Foundation: Stone
- Roof: Rubber
- Year Built Details: Approximate
- Zoning: R3
- Lot Features: Other
- Total Number of Units: 21
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Park, Laundromat
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $987,200
- Tax Year: 2022
- Total Rent: $20,374
- Compensation Based On: Net Sale Price
- Taxes: $11,188
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Listing information provided courtesy of Little & Co., REALTORS®.
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