Sold
286 Washington
Salem MA, 01970
$2,000,000
$425.99 per sqft
Sold
3 Baths
4,695 sqft
Multi-family
Built in 1900
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.
73264544
MLSⓇ ID
July 15, 2024
Listed
December 9, 2024
Updated
Map
286 Washington
Salem MA, 01970
Interior Features
Total Stories
3
Total Bathrooms
3
Full Bathrooms
3
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.07 Acres
Lot Features
Other
Roof
Rubber
Sewer
Public Sewer
Other Property Details
Taxes
$11,188
Tax Frequency
Annually
Days on Market
98
Garage
No
Parking Total
0
View
No
County
Essex
Water Source
Public
Pool
No
Zoning
R3
Listing History
Date | Event | Price |
|---|---|---|
12/9/2024 | Sold | $2,000,000 |
10/21/2024 | Pending | — |
10/7/2024 | Under contract | — |
Courtesy of Francesca Little, Little & Co., REALTORS®
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Data last updated 3:48 PM UTC, 12/9/2024
