$2,000,000
286 Washington
Salem, MA, 01970
Discover an exciting investment opportunity in the heart of historic Salem, MA with this twenty one (21) room rooming house. Perfectly situated in a prime location, this property offers a unique chance to own a meticulously maintained property that has been owned by the same family for over 40 years. Using 2023 numbers this is being offered at an 8% cap rate with projected rents for 2024 bringing to a 9.3% cap rate. A 5% vacancy has already been factored into the gross revenue.**THIS PROPERTY IS TO BE SOLD WITH 108-122 LAFAYETTE ST AS A PACKAGE MLS# 73264543**. Landlord is responsible for all utilities including heat/hw, electric and water/sewer. Seller is willing to explore a seller financing deal for the right buyer. Please see attached for detailed incomes and expenses. Rent roll changes weekly but can be provided upon request.
Property Details
Price:
$2,000,000
MLS #:
73264544
Status:
Active
Beds:
0
Baths:
3
Address:
286 Washington
Type:
Multi Family
Subtype:
5+ Family – Rooming House
City:
Salem
Listed Date:
Jul 15, 2024
State:
MA
Finished Sq Ft:
4,695
Total Sq Ft:
4,695
ZIP:
01970
Lot Size:
2,966 sqft / 0.07 acres (approx)
Year Built:
1900
Units:
21
Schools
Interior
Bathrooms
3 Full Bathrooms
Exterior
Community Features
Public Transportation, Park, Laundromat
Roof
Rubber
Financial
Tax Year
2022
Taxes
$11,188
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 Little & Co., REALTORS®. 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.
286 Washington
Salem, MA
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