Sold
58 Bridge St, Salem, MA
Salem · MA 01970
- $965,000
- Price
- 9
- Beds
- 10
- Baths
- 4501
- Sq. ft.
Overview
Property type:
Multi-Family
Year built:
Built in 1870
Units:
6 Units
Lot size:
5,114 Sq.Ft Lot
Price per square foot:
$211 / Sq.Ft
Parking:
5 Off Street Spaces
About this home
Investors: Rare opportunity to buy a Salem MA 6 Family located in the desirable Salem Neck neighborhood with easy access to public transportation, boating, public beaches, and downtown Salem and Beverly MA. Current Cap Rate is 7% at a $950,000 valuation. Heat, hot water and electric are separate for each of the units. Property is sold AS IS with tenants. All Tenants are TAW. Property is in need of updating. Projected Cap Rate after updating is 8.2% based on a valuation of $1,250,000. Reasonable projected rents were used. Note: There are 7 gas hot water boilers and 7 gas hot water tanks as the townhouse unit has two heating systems and 2 hot water tanks, one for each floor. This property is a Potential Condominium Conversion. Request our Investment Analysis of this Property. Offer Instructions: for Financed Offers, include a commercial loan pre-approval; for Cash Offers include proof of funds.
Neighborhood & Transit
Salem Neck
58 Bridge St, 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:
- 1468 days
- Listing Price:
- $950,000
- Price per Sq.Ft:
- $211
- Tax Assessment:
- $633,700 in 2022
- Taxes:
- $700 / Monthly
Home Facts
Interior Features
- Bedrooms
- 9
- Full Bathrooms
- 10
- Half Bathrooms
- 0
- Living Area
- 4,501 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
- Circuit Breakers
Exterior Features
- Lot Size
- 5,114 Sq.Ft
- Lot Description
- Unknown
- Exterior Features
- Unknown
Parking
- Garage Parking
- 0 Parking Spaces
- Off Street Parking
- 5 Parking Spaces
Construction Details
- Construction Type
- Unknown
- Siding
- Vinyl
- Roof
- Unknown
Green Features
- Electric Vehicle Charger
- Unknown
- Solar Panels
- Unknown
- Green Certified
- Unknown
- Insulation Features
- Unknown
- Energy Features
- Unknown
Listing information
- Listing agent
- Kathleen Sullivan
- Listing office
- RE/MAX 360
- MLS PIN #
- 73001343
- Disclosure
- Legal 6 unit residential building per Salem MA Building Commissioner. Not in a Flood Zone per FEMA map. Third Floor electric is connected to the house meter and needs to be moved to the Townhouse electric panel. Insulation has been blown into exterior walls.