$1,100,000
8
Beds
2/2
Baths
5,866
Living Area
-
Property Description
Here's your chance to invest in a prime piece of real estate poised to generate substantial income and build wealth over time. This highly visible commercial building is situated on a coveted corner lot, just half a mile from the communal rail, offering both convenience and high foot traffic. This mixed-use building features two four-bedroom residential units and two retail spaces, with a projected monthly gross income of $14,040 and a net of $90,322 annually. Located minutes from historical sites, top restaurants, shops, and Salem Harbor, this property is in the heart of a thriving community. Enjoy high foot traffic and excellent exposure, making it ideal for both residential and commercial tenants. Invest in this gem and secure a steady income stream in a vibrant, growing market. Residential rentals well below housing guidelines
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Highlights
- Parking Spots: 6
- Property Type: 4 Family
- Year Built: 1890
- Property Class: Residential Income
- Total Rooms: 16
- Status: Closed
-
Additional Details
- Basement: Full
- Foundation: Concrete Perimeter
- Roof: Rubber
- Year Built Details: Actual
- Zoning: B1
- Flooring: Wood
- Lot Features: Corner Lot
- Total Number of Units: 4
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Medical Facility, T-Station
- Parking Features: Off Street
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Utilities
- Electric: Circuit Breakers
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $843,600
- Compensation Based On: Net Sale Price
- Tax Year: 2024
- Total Rent: $9,189
- Buyer Agent Compensation: 2.0%
- Facilitator Compensation: 2.0%
- Taxes: $9,802
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