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8-10 & Ct #5, Salem, MA, 01970

34beds
12baths
13,472sqft
$4,200,000
$312price/sqft
$28,731/moest. monthly cost
$1,149,240/yrincome needed

About This Home

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± and a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages currently generating substantial income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and storage units per apartment for additional income. Investors will hedge any risk with multiple revenue streams within one investment opportunity. The offering is within walking distance of public transportation, restaurants, and many local amenities.

Getting Around

95
WalkingWalker's Paradise
39
TransitSome Transit
73
BikeVery Bikeable

Schools

5/10
Saltonstall SchoolGrades K-80.3 mi
--
Salem Prep High SchoolGrades 9-120.4 mi
6/10
Collins Middle SchoolGrades 6-80.6 mi

Construction

Condition

  • Year built: 1915

Materials

  • Foundation: Stone,Brick/Mortar
  • Roof: Shingle,Rubber
  • Construction materials: Brick,Stone

Type & Style

  • Home type: MultiFamily
  • Property subType: 5+ Family - 5+ Units Up/Down

Interior

Basement

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

Bedrooms & Bathrooms

  • Bedrooms: 34
  • Bathrooms: 12
  • Full bathrooms: 12

Features

  • Door features: Insulated Doors
  • Window features: Insulated Windows
  • Flooring: Tile,Vinyl,Hardwood
  • Finished area above ground: 13,472

Interior Area

  • Total structure area: 13,472
  • Total interior livable area: 13,472 sqft

Property

Details

  • Zoning: R3
  • Foundation area: 999

Lot

  • Lot size: 0.40 Acres
  • Features: Level

Parking

  • Total spaces: 27
  • Parking features: Off Street,Assigned
  • Has garage: Yes
  • Attached garage spaces: 6
  • Covered spaces: 6
  • Uncovered spaces: 21