There are multiple listings for this address:

385-387 Salem St

Malden, MA, 02148

$1,350,000

6 Beds

4 Baths

6,055 SqFt

0.05 Acres

Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.

Property Details

Price:

$1,350,000

MLS #:

73373885

Status:

Pending

Beds:

Baths:

Address:

385-387 Salem St

Type:

Multi Family

Subtype:

5+ Family – 5+ Units Up/Down

Neighborhood:

Faulkner

City:

Malden

Listed Date:

May 13, 2025

State:

Finished Sq Ft:

6,055

Total Sq Ft:

6,055

ZIP:

02148

Lot Size:

2,348 sqft / 0.05 acres (approx)

Year Built:

1900

Units:

Schools

Elementary School:

Salemwood

Middle School:

Salemwood

High School:

Malden High

Interior

Appliances

None, Range, Refrigerator

Bathrooms

4 Full Bathrooms

Cooling

None

Flooring

Tile, Concrete, Hardwood, Carpet, Wood

Heating

Electric

Exterior

Community Features

Public Transportation, Shopping, Highway Access, Public School, T- Station, Sidewalks

Construction Materials

Stone

Exterior Features

Balcony

Roof

Tar/ Gravel

Financial

Net Operating Income

$18,918

Tax Year

2024

Taxes

$14,855

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Marie Andrews

Realtor®, Broker/Owner, GBREB, Notary Public

pegasusrealtyma@gmail.com

Marie Andrews is an award-winning, licensed real estate broker with licenses in Massachusetts and Florida. She has been selling real estate in the greater Boston area for over 20 years. Over the past two decades, Marie has worked for Century 21 Advanced Realty, building a reputation as a multi-million dollar producer. She has developed an extensive network of investors, lenders, and attorneys. Marie has a wide knowledge base on property management, Massachusetts real estate law, and building…

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Courtesy of Leading Edge Real Estate. The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

Rover IDX

385-387 Salem St

Malden, MA

385-387 Salem St

Malden, MA, 02148

$1,350,000

Beds

4 Baths

6,055 SqFt

0.06 Acres