Historical Multifamily Sale Listing - 73 Congress Street

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73 Congress Street

73 Congress Street, Salem, MA 01970

N/A

7 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
7
Building Size:
6,979 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Additional Sub-types:
Restaurant
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
8.90%
Occupancy:
85%
No. Stories:
3
Year Built:
1920
Lot Size:
9,583 SF
Listing ID
14965529
Last Updated
over 1 year ago

Highlights

  • Mixed Use Property
  • Good Investment

Description

7 Unit brick building in good condition location 1/4 mile from the waterfront and Pickering Wharf. Consisting of 4 two bedroom and 2 one bedroom units and 1 commercial unit currently under lease as a restaurant. Plenty of parking including 9 garage spaces (new doors) that are rented for $75.00/month (and could be higher). All residential unit are tenant-at-will and are in good condition. Newer replacement windows & boiler. Rents are below market - excellent potential to increase revenue. Walking distance to downtown Salem, commuter train and boat. Full liquor license may be available at additional cost but only with the sale of the property.

Near Pickering Wharf, Shetland Park.

Map of 73 Congress Street, Salem, MA 01970 (Essex County)

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