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$1,395,000
Est. payment /mo
15 Beds
7 Baths
5,110 SqFt
UPDATED:
12/18/2024 06:29 PM
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Pending
Purchase Type For Sale
Square Footage 5,110 sqft
Price per Sqft $272
MLS Listing ID 73240469
Bedrooms 15
Full Baths 7
Year Built 1900
Annual Tax Amount $11,088
Tax Year 2024
Lot Size 1,742 Sqft
Acres 0.04
Property Description
Fantastic investment opportunity! Posibility of turning the licensed lodging house into regular apartments (with city approval) or use as short-term rentals (AirBnB) according to city solicitor. It currently offers 15 units with a total of 24 rooms, boasting 4 private baths and 3 common baths. Conveniently situated near the commuter train station and downtown Salem, tenants enjoy easy access to transportation and amenities. With 2 parking spaces, convenience meets practicality. Recently painted and featuring updated cabinetry, this property is turnkey and ready for new ownership as a rooming house. Possibly convert to regular apartments (many rooms have connecting doorways) or condos (city approval required). Newer furnace was put in 2019. Roof reshingled late spring 2021. Floors just completely refinished. Most windows are newer. Don't miss out on this possible lucrative venture! Floor plans online. Gross income is projected and not actual. Buyers to perform due diligence.
Location
State MA
County Essex
Zoning R2
Direction Brown Street to Howard Street.
Rooms
Basement Full, Interior Entry, Bulkhead
Interior
Interior Features Kitchen, Laundry Room, Living Room
Heating Natural Gas
Flooring Wood
Exterior
Community Features Public Transportation, Shopping, T-Station
Waterfront Description Beach Front,1/2 to 1 Mile To Beach
Total Parking Spaces 1
Garage No
Building
Story 11
Foundation Other
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by Aluxety
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