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233 Lafayette St
Salem, MA 01970
Multifamily Property For Sale
·
26 Units
Executive Summary
Rare opportunity to acquire a fully renovated 26-unit brick asset in one of Salem’s most active rental markets. The Property consists of twelve (12) one-bedroom units, six (6) two-bedroom units and eight (8) studios. 233 Lafayette Street offers investors immediate scale, strong in-place income, and a true turnkey profile with major capital improvements already executed. The property has undergone an extensive renovation in 2020, including a new roof, fully upgraded electrical, new boilers and hot water storage and a new sprinkler system. Unit interiors have been upgraded across the board with updated kitchens and baths with 15 of the units featuring in-unit laundry. See attached brochure for detailed financials.
Property Facts
| Price Per Unit | $307,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.24 AC |
| No. Units | 26 | Building Size | 21,242 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1915 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | B1 | ||
| Price Per Unit | $307,500 |
| Sale Type | Investment |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 21,242 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Opportunity Zone |
Yes |
| Zoning | B1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 26 | - | - |
Property Taxes
| Parcel Number | SALE-000033-000000-000499 | Improvements Assessment | $2,433,500 |
| Land Assessment | $2,093,000 | Total Assessment | $4,526,500 |
Property Taxes
Parcel Number
SALE-000033-000000-000499
Land Assessment
$2,093,000
Improvements Assessment
$2,433,500
Total Assessment
$4,526,500
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