286 Washington, Salem, MA, 01970
21 rooms
0 beds
3 Full baths
1900
4,695 sqft
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.
Status:
Active
Type:
Multi-family
Units:
21
Zoning:
R3
Levels:
3
Acreage:
0.07
Est. Taxes:
$11,188
Assessment
$987,200
Lot Description:
Other
Amenities:
Public Transportation, Park, Laundromat
MLS #:
73264544
Facilitator Compensation:
1
Compensation Based On:
Net Sale Price
Sub-Agency Relationship Offered:
No
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School Info
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Listing courtesy of Francesca Little, Little & Co., REALTORS®