5 Willow Ave
$845,000
5
Beds
3
Baths
2,229
Sqft
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$845,000
5
Beds
3
Baths
2,229
Living Area
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Property Description
Location and value! Conveniently situated between downtown Salem and Salem State University, this updated two-family offers a strong rental history and a truly turn-key opportunity for an investor or owner-occupant. The first floor features a one-bedroom, one-bath unit, while the upper unit spans two levels with four bedrooms, two baths, and a vaulted bonus room. Unit 2 is now vacant and most recently rented for $4,000/month. A long list of upgrades, separate utilities, one-car garage, driveway, and low-maintenance patio add to the appeal. Enjoy easy access to downtown Salem’s shops, restaurants, commuter rail, and ferry to Boston, and don’t miss the small neighborhood beach at the end of the street!
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Highlights
- Area: South Salem
- Parking Spots: 4
- Property Type: 2 Family - 2 Units Up/Down
- Total Rooms: 12
- Status: Active
- Levels: 3
- Property Class: Residential Income
- Stories: 3
- Year Built: 1890
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Additional Details
- Basement: Unfinished
- Foundation: Stone, Brick/Mortar
- Roof: Shingle
- Total Number of Units: 2
- Year Built Source: Public Records
- Exclusions: Tenant Possessions In Unit 1
- Lot Features: Level
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: R1
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Amenities
- Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Bike Path, Conservation Area, House of Worship, Marina, Public School, University
- Parking Features: Paved Drive, Off Street
- Covered Parking Spaces: 1
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $678,000
- Taxes: $7,309
- Tax Year: 2026
- Total Rent: $2,160
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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 Compass.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.