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1 Prince St
Salem, MA 01970
Multifamily Property For Sale
·
4 Units
Executive Summary
Turnkey 4-unit investment opportunity in Salem perfect for investor or owner occupant. The Property consists four (4) 2-bedroom units, along with 5 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 newer roof, and new insulation in attic 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.
Property Facts
| Price Per Unit | $318,750 | Building Size | 3,328 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 5.99% | Year Built/Renovated | 1960/2023 |
| No. Units | 4 | Parking Ratio | 1.5/1,000 SF |
| Property Type | Multifamily | ||
| Zoning | R3 | ||
| Price Per Unit | $318,750 |
| Sale Type | Investment |
| Cap Rate | 5.99% |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Size | 3,328 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2023 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
Property Taxes
| Parcel Number | SALE-000034-000000-000341 | Improvements Assessment | $1,261,000 |
| Land Assessment | $171,100 | Total Assessment | $1,432,100 |
Property Taxes
Parcel Number
SALE-000034-000000-000341
Land Assessment
$171,100
Improvements Assessment
$1,261,000
Total Assessment
$1,432,100
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