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1-7 Prince St #&-48-54, Salem, MA, 01970

16beds
8baths
6,656sqft
$2,650,000
$398price/sqft
$17,763/moest. monthly cost
$710,520/yrincome needed

About This Home

Turnkey 8-unit investment opportunity in Salem. The Property consists of two four-family buildings deeded together, totaling eight (8) 2-bedroom units, along with 10 off-street parking spaces. Heat and hot water are included in rent. The property has been extensively updated, featuring renovated kitchens and baths with granite countertops and stainless steel appliances, updated electrical, a new roof on the Harbor Street building, and new insulation in both attics and walls. Additional highlights include basement storage and a clean, well-maintained condition, making this an ideal opportunity for investors seeking a low-maintenance, stabilized asset with upside through future rent optimization. See attached for the OM with detailed financials.

Getting Around

96
WalkingWalker's Paradise
39
TransitSome Transit
68
BikeBikeable

Schools

5/10
Saltonstall SchoolGrades K-80.3 mi
--
Salem Prep High SchoolGrades 9-120.4 mi
6/10
Collins Middle SchoolGrades 6-80.8 mi

Construction

Condition

  • Year built: 1960

Materials

  • Foundation: Concrete Perimeter
  • Roof: Shingle
  • Construction materials: Frame

Type & Style

  • Home type: MultiFamily
  • Property subType: 5-9 Family

Interior

Basement

  • Has basement: Yes
  • Basement: Full,Interior Entry

Bedrooms & Bathrooms

  • Bedrooms: 16
  • Bathrooms: 8
  • Full bathrooms: 8

Features

  • Flooring: Wood
  • Finished area above ground: 6,656

Heating

  • Heating features: Oil

Interior Area

  • Total structure area: 6,656
  • Total interior livable area: 6,656 sqft

Property

Details

  • Zoning: R3

Lot

  • Lot size: 9,740 sqft
  • Features: Corner Lot

Parking

  • Total spaces: 10
  • Parking features: Off Street
  • Uncovered spaces: 10