Sold!
$3,830,000
34
Beds
12
Baths
13,472
Living Area
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Property Description
Investors take notice of a rare offering in downtown Salem. 5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story 6-unit buildings with a total square footage of 19,720± with a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages for additional income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and the opportunity to increase rents to market with minimal capital. The offering is near public transportation, restaurants, and many local amenities within walking distance of the subject properties.
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Highlights
- Levels: 3
- Property Class: Residential Income
- Stories: 3
- Year Built: 1915
- Parking Spots: 27
- Property Type: 5+ Family - 5+ Units Up/Down
- Total Rooms: 54
- Status: Closed
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Additional Details
- Basement: Full
- Flooring: Wood, Tile, Vinyl
- Foundation Area: 99999
- Road Frontage Type: Public
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: R3
- Construction: Frame, Brick, Stone
- Foundation: Stone
- Lot Features: Level
- Roof: Shingle, Rubber
- Total Number of Units: 12
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails
- Parking Features: Paved Drive, Shared Driveway, Off Street
- Covered Parking Spaces: 6
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Utilities
- Electric: 200+ Amp Service
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $2,540,300
- Taxes: $28,941
- Tax Year: 2025
- Total Rent: $29,376
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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 North Shore Realty Advisors.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
