$2,000,000
286 Washington Salem, MA 01970
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$2,000,000
Est. payment /mo
3 Baths
4,695 SqFt
UPDATED:
10/21/2024 07:05 AM
Key Details
Property Type Multi-Family
Sub Type 5+ Family - Rooming House
Listing Status Pending
Purchase Type For Sale
Square Footage 4,695 sqft
Price per Sqft $425
MLS Listing ID 73264544
Full Baths 3
Year Built 1900
Annual Tax Amount $11,188
Tax Year 2022
Lot Size 3,049 Sqft
Acres 0.07
Property Description
Discover an exciting investment opportunity in the heart of historic Salem, MA with this twenty one (21) room rooming house. Perfectly situated in a prime location, this property offers a unique chance to own a meticulously maintained property that has been owned by the same family for over 40 years. Using 2023 numbers this is being offered at an 8% cap rate with projected rents for 2024 bringing to a 9.3% cap rate. A 5% vacancy has already been factored into the gross revenue.**THIS PROPERTY IS TO BE SOLD WITH 108-122 LAFAYETTE ST AS A PACKAGE MLS# 73264543**. Landlord is responsible for all utilities including heat/hw, electric and water/sewer. Seller is willing to explore a seller financing deal for the right buyer. Please see attached for detailed incomes and expenses. Rent roll changes weekly but can be provided upon request.
Location
State MA
County Essex
Zoning R3
Direction Please use GPS
Exterior
Community Features Public Transportation, Park, Laundromat
Waterfront false
Roof Type Rubber
Garage No
Building
Lot Description Other
Story 3
Foundation Stone
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by Little & Co., REALTORS®
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