42 Park Street Salem, MA 01970

Rare investment opportunity near downtown Salem. The subject property is a nine (9) unit brick apartment building with 5 to 6 off street parking spaces and eight (8) bay garages. The opportunity consists of two (2) one bedroom apartments, four (4) two-bedroom apartments, and three (3) four-bedroom apartments. Each unit has lead certificates and the tenants have for their own metered utilities. 42 Park Street is ideally located just off Lafayette Street and is 1-mile from the Salem Depot Commuter Rail Station. The current owner has owned the property for a number of years, therefore the rents in place are all under market, with minimal capital improvements, you can bring income up to market making this an ideal value add opportunity.