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Key Details
Sold Price $1,626,000
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,265 sqft
Price per Sqft $308
MLS Listing ID 72840948
Sold Date 08/03/21
Bedrooms 10
Full Baths 9
Year Built 1900
Annual Tax Amount $12,767
Tax Year 2021
Lot Size 2,613 Sqft
Acres 0.06
Property Sub-Type 5-9 Family
Property Description
Rare, 9 unit investment property for sale at a very attractive 7.1% Cap Rate. Located in the historic Derby Street area, minutes from Salem Common, Hawthorne Hotel, numerous shops and restaurants, Peabody Essex Museum, Salem Harbor, Salem Train Station and nearby beaches at Salem Willows Park, Collins Cove, Winter Island and Dead Horse Beach. The 9 units (8 one-bed and one lead compliant two-bed unit) are distributed across a 2 family and a 7 unit building. All leases are TAWs and many tenants have been there for several years. Pro-forma analysis and rent roll are available to qualified buyers. All offers must include pre-approval from lender and proof of funds. First showings to qualified buyers will be by appointment between 1 pm - 3 pm on Saturday June 5 and Sunday June 6. Face masks required.
Location
State MA
County Essex
Zoning R2
Direction Derby St To Herbert St which is one way off of Derby St
Rooms
Basement Full, Interior Entry
Interior
Interior Features Unit 3 Rooms(Kitchen, Living RM/Dining RM Combo), Unit 4 Rooms(Kitchen, Living RM/Dining RM Combo)
Heating Unit 1(Central Heat, Steam, Gas), Unit 2(Central Heat, Steam, Gas), Unit 3(Central Heat, Steam, Gas), Unit 4(Steam, Gas)
Cooling Unit 1(None), Unit 2(None), Unit 3(None), Unit 4(None)
Flooring Wood, Tile
Appliance Gas Water Heater, Tank Water Heater, Utility Connections for Gas Range, Utility Connections for Electric Dryer
Laundry Washer Hookup
Exterior
Exterior Feature Garden
Fence Fenced/Enclosed, Fenced
Community Features Public Transportation, Shopping, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Marina, Private School, Public School, T-Station, Sidewalks
Utilities Available for Gas Range, for Electric Dryer, Washer Hookup
Waterfront Description Beach Front, Ocean, 1 to 2 Mile To Beach, Beach Ownership(Public)
Roof Type Shingle
Garage No
Building
Lot Description Level
Story 10
Foundation Stone, Granite
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with Laurence Tamkin • Boston Commercial Realty
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