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$4,500,000
Est. payment /mo
27 Beds
19 Baths
24,126 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Active
Purchase Type For Sale
Square Footage 24,126 sqft
Price per Sqft $186
MLS Listing ID 73452143
Bedrooms 27
Full Baths 19
Year Built 1915
Annual Tax Amount $38,616
Tax Year 2024
Lot Size 0.260 Acres
Acres 0.26
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
Salem, MA multifamily portfolio: 19 units spanning three buildings at 288–292 Washington Street and 5 Porter Street Court. The package features a balanced mix of twelve (12) one-bedroom units, six (6) two-bedroom units, and one (1) three-bedroom unit. Owner provides heat and hot water to tenants. The 5 Porter St Ct property includes approximately 6–8 off-street parking spaces for added tenant convenience. In-place rents are below current market levels, presenting a clear value-add opportunity to align rents with market and further stabilize operations over time. Set near Downtown Salem, the properties offer immediate access to a thriving year-round market—walkable to restaurants, retail, the waterfront, museums, and the MBTA for easy Boston access. Strong demand drivers and in-town convenience support stable occupancy and long-term rent growth.
Location
State MA
County Essex
Zoning R3
Direction Please use GPS
Interior
Interior Features Living Room, Dining Room, Kitchen
Heating Oil
Flooring Wood
Exterior
Community Features Public Transportation, Park, T-Station
Utilities Available for Gas Range, for Electric Range
Roof Type Rubber
Total Parking Spaces 8
Garage No
Building
Lot Description Other
Story 4
Foundation Stone
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by Little & Co., REALTORS®
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