Sold!
$1,000,000
7
Beds
3
Baths
3,420
Living Area
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Property Description
Prime Investment Opportunity in Salem! This meticulously maintained 3-family property has been cared for by the same family for generations. Featuring two (2) 2-Bedroom, 1-Bathroom units and one (1) 3-Bedroom, 1-Bathroom unit, this property offers lucrative investment potential. Eight off street parking spots creates the option for added monthly income. All tenants are responsible for their own heat/hw and electric and rents are well below market value. This property can be sold as a package with 2 Chase st and 199-201 Lafayette st to create a 12 unit portfolio with a total of 12 off street parking spots. See attached for income/expenses and rent projections.
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Highlights
- Heating: Forced Air, Natural Gas
- Property Class: Residential Income
- Total Rooms: 12
- Status: Closed
- Parking Spots: 8
- Property Type: 3 Family - 3 Units Up/Down
- Year Built: 1915
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Additional Details
- Construction: Frame
- Lot Features: Other
- Total Number of Units: 3
- Year Built Source: Public Records
- Foundation: Concrete Perimeter
- Roof: Shingle
- 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: 100 Amp Service
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $664,500
- Compensation Based On: Net Sale Price
- Tax Year: 2023
- Total Rent: $5,805
- Buyer Agent Compensation: 2%
- Facilitator Compensation: 2%
- Taxes: $7,600
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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 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.
