All those times you talked about how if you found a deal on a multifamily you were going to take it down and become the next Monopoly Man... well here is your moment to put up or shut up. This is a steal of a deal on this 4 unit in downtown Salem City NJ. This money maker stretches over 5500+ sq ft allowing you to design the optimum floorplan to maximize your rental income. Some of the heavy lift is done as you can see from the photos making cash flow that much sooner for you. Take advantage of this opportunity and practice what you preach.
Welcome to 78 Walnut Street, Salem, NJ, a versatile property offering exceptional opportunities for investors, owner-occupants, or those seeking a multigenerational living arrangement. Currently configured as a duplex, this spacious home provides flexibility to suit a variety of lifestyles and investment goals. The first-floor unit features 2 bedrooms, 1 full bathroom, a kitchen, dining room, and living room, providing the convenience of one-level living. The second-floor unit offers 2-3 bedrooms, 1 full bathroom, and a kitchen, with one of the rooms easily converted into a living room to create a more traditional 2-bedroom layout. A separate stairwell leading to the second floor enhances privacy and functionality between the two living spaces. For investors, this property presents an attractive income-producing opportunity. Comparable 2-3 bedroom rentals in the Salem area may generate approximately $1,300 to $1,600 per month per unit, depending on market conditions, property condition, and tenant-paid utilities. Buyers are encouraged to conduct their own due diligence regarding rental income potential, zoning, and permitted uses. Alternatively, the property can be enjoyed as a spacious single-family residence offering up to 5 bedrooms and 2 full bathrooms, ideal for those in need of extra space. As a single-family rental, estimated market rents may range from $1,900 to $2,200 per month, subject to condition and amenities. Additional highlights include a walk-up attic and full basement providing abundant storage space, a newer roof, and leased solar panels designed to help offset utility costs. The first floor is heated by propane forced air, while the second floor utilizes electric baseboard heat, allowing for independent comfort throughout the home. Conveniently located in the heart of Salem City, this property is just minutes from local shops, restaurants, parks, and major commuting routes. Students residing in Salem City may also benefit from opportunities offered through the Forman S. Acton Educational Foundation, which provides scholarships, educational programming, and college support for eligible students. Whether you're looking to expand your investment portfolio, accommodate extended family, or find a home with room to grow, 78 Walnut Street offers endless possibilities. Don't miss your chance to explore everything this unique Salem City property has to offer—schedule your private tour today!
Property is currently rented. 3 Bedroom 1 Bath -$1450 Section 8// Studio -$600// Tenants are responsible for Electric. Currently M2M and tenants would like to stay. This property is as is and buyers are responsible for CO
INVESTMENT OPPORTUNITY - This property offers strong potential for investors looking to add to their portfolio, renovate and resell, or create long-term rental income. Property is currently tenant occupied, with Unit A rented out for $1,200 per month and unit B rented out for $1,000, making this an attractive opportunity for cash flow-focused investors. Being sold strictly as-is, buyers are responsible for conducting their own due diligence, and the seller makes no representations or guarantees regarding condition, zoning, permitted use, or potential income.
Attention investors, builders, and value-add buyers — opportunity awaits in Salem! This multi-family duplex property includes 2 separate units with a total of 6 bedrooms and 2 full bathrooms across two separately deeded lots being sold together. Whether you're looking to renovate and hold, create strong rental cash flow, or reposition the property for future resale potential, this property offers multiple paths for upside. The home features spacious layouts, a full basement for storage or additional utility space, and a large footprint with room to bring your vision to life. Septic improvements are currently underway, creating additional long-term value for the next owner. Conveniently located near downtown Salem, major commuting routes, shopping, and public transportation. Ideal for investors seeking their next project or buyers looking to capitalize on a growing value-add opportunity. Property being sold strictly as-is. Buyer responsible for all inspections, certifications, and due diligence.
Investor Alert - Positioned in the heart of Salem, this income producing duplex offers immediate cash flow with both units currently occupied-step into ownership with this Income Producing Asset. The property has been maintained where it matters most. Major mechanical and electrical systems were updated, giving you a solid operational foundation reducing near=term capital expenses. One Sec. 8 rental unit and the other is a standard rental - each unit delivers consistent rental income, makig this an ideal addition to a growing portfolio or a smart entry point for a first-time investor.
30 Davis Ave presents a redevelopment or full-rehabilitation opportunity in Salem, NJ. The property is currently configured as a multi-unit property and was previously utilized as multiple residential units. Buyer is responsible for confirming zoning compliance, legal use, and permitted unit count with the municipality. Buyer is responsible for all inspections, certifications, municipal requirements, permits, liens, back taxes, and any associated costs.
Property Has 2 Of 3 Units Rented 2 Bedroom Rent $1000/Mo-Under Lease Month 2 Month 1 Bedroom-Rent $850/Mo-Lease till 10/2026 4 Bedroom-Was Rented for $1600/Mo-Vacant Property Is As Is Buyer Responsible for CO Showings are from 5-7 on WED and 12-4 on Sat
Great tri-plex in Salem. Three units with long-term tenants, all CO's in place, LBP inspections are current. Two of the units are one bedroom/one bathroom, and one unit has three bedrooms with one full bathroom, one half bathroom. Tenants pay electric on seperate meters. Tenants will need ample notice for showings. All prospective buyers will need to provide proof of funds or an updated mortgage approval letter prior to any showing requests being approved.
Salem is located in New Jersey. Salem, New Jersey has a population of 5,237. Salem is less family-centric than the surrounding county with 14.63% of the households containing married families with children. The county average for households married with children is 25.35%.
The median household income in Salem, New Jersey is $26,667. The median household income for the surrounding county is $67,898 compared to the national median of $69,021. The median age of people living in Salem is 32.5 years.
The average high temperature in July is 86.3 degrees, with an average low temperature in January of 24.4 degrees. The average rainfall is approximately 44.9 inches per year, with 16.6 inches of snow per year.
