Rare opportunity to acquire a fully renovated 26-unit brick asset in one of Salem’s most active rental markets. The Property consists of twelve (12) one-bedroom units, six (6) two-bedroom units and eight (8) studios. 233 Lafayette Street offers investors immediate scale, strong in-place income, and a true turnkey profile with major capital improvements already executed. The property has undergone an extensive renovation in 2020, including a new roof, fully upgraded electrical, new boilers and hot water storage and a new sprinkler system. Unit interiors have been upgraded across the board with updated kitchens and baths with 15 of the units featuring in-unit laundry. See attached OM for detailed financials.
Cash Buyer Opportunity or renovation loan – Exceptional income-producing four-unit asset with strong upside potential. Two units have been fully renovated and are currently leased, offering immediate, stable income. A third unit features a long-term tenant and presents a clear value-add opportunity, with the potential to be easily converted from a one-bedroom into a two-bedroom. 4TH UNIT REQUIRES A FULL RENO AND IS UNINHABITABLE SO PLEASE CHECK WITH YOUR LENDER ON FINANCING. A compelling opportunity for investors seeking both cash flow and future appreciation. This property sits right off of Canal street with plenty of commercial and restaurants within short distance and a future train station and other public transit close by. Great sized parking lot in rear. 48 hours notice for all showings. Do not walk on premises without the agent.
2 Rear porches for quiet enjoyment,10 Room 4 Bedroom 2 Bath in desirable City of Salem, located close to Salem University, shopping nearby, close to bus stop, walk to Forest River Park. Great for first-time home buyers or investment property. New oil furnace on 2nd floor. Property being sold as is.
Turnkey 8-unit investment opportunity in Salem. The Property consists of two four-family buildings deeded together, totaling eight (8) 2-bedroom units, along with 10 off-street parking spaces. Heat and hot water are included in rent. The property has been extensively updated, featuring renovated kitchens and baths with granite countertops and stainless steel appliances, updated electrical, a new roof on the Harbor Street building, and new insulation in both attics and walls. Additional highlights include basement storage and a clean, well-maintained condition, making this an ideal opportunity for investors seeking a low-maintenance, stabilized asset with upside through future rent optimization. See attached for the OM with detailed financials.
Situated at 11 Barton St in the historic city of Salem, MA, United States, this multi-family residence presents itself as an attractive property in great condition. The kitchen invites culinary exploration with its elegant backsplash, expansive kitchen peninsula, and durable stone countertops, providing both aesthetic appeal and practical workspace for everyday living. Within the living room, a welcoming fireplace provides a focal point, complemented by the distinctive charm of a beamed ceiling, creating an atmosphere of comfort and refined character. Each of the two full bathrooms offers a refreshing experience, featuring a double vanity for convenience and a beautifully tiled walk-in shower, ensuring a serene start or end to the day. Beyond the individual living spaces, this multi-family property, built in 1821, offers a substantial 2160 square feet of living area distributed across its two stories.
CASH COW! Strong cash-flowing 6-unit multifamily investment opportunity in desirable Salem, MA. The property generates approximately $248,724 in gross annual income and a high NOI, offering an attractive cap rate of approximately 8.5%. Based on typical financing assumptions, projected Year-1 cash flow is approximately $64,000 with a healthy DSCR of about 1.46. The building includes six residential units plus additional income from laundry and storage. Conveniently located near MBTA commuter rail with easy access to Boston and Salem’s vibrant downtown, waterfront, restaurants, and retail. Excellent opportunity for investors seeking stable income with long-term upside potential.
This stunning waterfront retreat in the highly sought-after Juniper Point/Willows neighborhood truly has it all. Offering 12 spacious rooms, including 6 bedrooms and 5 bathrooms, this exceptional property blends comfort, versatility, and coastal charm. The main residence features an inviting eat-in kitchen, formal dining room, bright living room, and convenient laundry room. The luxurious primary suite is a private oasis, complete with its own deck, kitchenette, cedar closet, and custom built-ins. Above the garages, you’ll find a separate living space—perfect for guests or extended family—featuring an eat-in kitchen, living room, and bedroom. Enjoy breathtaking views of Juniper Cove, Baker’s Island, and beyond. Outdoor living is just as impressive, with a large front porch, expansive level yard, pool house, outdoor shower, and a fenced, paved driveway with parking for 6+ cars. The private, built-in saltwater pool and direct access to Juniper Cove. OPEN HOUSE Sat 4/11 10-11:30.
Salem is located in Massachusetts. Salem, Massachusetts has a population of 44,452. Salem is less family-centric than the surrounding county with 22.93% of the households containing married families with children. The county average for households married with children is 30.06%.
The median household income in Salem, Massachusetts is $72,884. The median household income for the surrounding county is $86,684 compared to the national median of $69,021. The median age of people living in Salem is 37.6 years.
The average high temperature in July is 79.9 degrees, with an average low temperature in January of 18.2 degrees. The average rainfall is approximately 47.3 inches per year, with 41.8 inches of snow per year.
