Sold
42-44 Park Street, Salem, MA
Salem · MA 01970
- $1,792,750
- Price
- 22
- Beds
- 9
- Baths
- 9012
- Sq. ft.
Overview
Property type:
Multi-Family
Year built:
Built in 1913
Units:
9 Units
Lot size:
5,998 Sq.Ft Lot
Price per square foot:
$194 / Sq.Ft
Parking:
8 Garage Spaces · 6 Off Street Spaces
About this home
Rare investment opportunity to obtain an over-sized nine (9) unit brick multi-family between Salem State University and downtown Salem. The property has undergone renovation and updating over the past year. The property consist of Three (3) 4bedroom apts, Four (4) 2bedroom apts, and two (2) 1bedroom apts as well as a newly paved parking lot for the residence and 8 bay garages for additional income. Each unit has lead certificates and the tenants have their own metered utilities. The subject property is ideally located just off Lafayette Street and less than 1-mile from Salem Depot Commuter Rail Station. This opportunity is available at a rare 7.9% capitalization rate and would make for the perfect 1031 exchange or simply a buy/hold strong cash flowing asset.
Neighborhood & Transit
42-44 Park Street, Salem · MA 01970
Nearby transit
Within 0.5 mile, measured straight-line to the nearest station entrance.
No subway or commuter rail stations within 0.5 mile.
Price Insight
- Days on Market:
- 2112 days
- Listing Price:
- $1,750,000
- Price per Sq.Ft:
- $194
- Tax Assessment:
- $1,171,800 in 2020
- Taxes:
- $1,411 / Monthly
Home Facts
Interior Features
- Bedrooms
- 22
- Full Bathrooms
- 9
- Half Bathrooms
- 0
- Living Area
- 9,012 Sq.Ft
- Kitchen
- Unknown
- Primary Bedroom
- Unknown
- Laundry
- Unknown
- Living levels
- Unknown
- Rooms
- Unknown
- Above grade area
- Unknown
- Flooring
- Unknown
- Lead paint
- Unknown
Utilities
- Heating Type
- Unknown
- Heating Zone
- Unknown
- Cooling
- Unknown
- Cooling Zones
- Unknown
- Water
- Unknown
- Sewer
- Unknown
- Electric Features
- 220 Volts, Circuit Breakers
Exterior Features
- Lot Size
- 5,998 Sq.Ft
- Lot Description
- Unknown
- Exterior Features
- Unknown
Parking
- Garage Parking
- 8 Parking Spaces
- Off Street Parking
- 6 Parking Spaces
Construction Details
- Construction Type
- Unknown
- Siding
- Unknown
- Roof
- Unknown
Green Features
- Electric Vehicle Charger
- Unknown
- Solar Panels
- Unknown
- Green Certified
- Unknown
- Insulation Features
- Unknown
- Energy Features
- Unknown
Listing information
- Listing agent
- Dan Pouladian
- Listing office
- The Mega Group
- MLS PIN #
- 72729886