NOT LISTED FOR SALE

117 Loring Ave Unit 119 Salem, MA 01970

South Salem Neighborhood

Estimated Value: $774,361 - $908,000

6 Beds
2 Baths
2,796 Sq Ft
$303/Sq Ft Est. Value

Last Sold February 28, 2022

Last sale price $760,000 $272 Per Sq Ft

Est. 12% increase in value since last sale

Current estimated payment $5,155/month

3 Days on Market

Highlights

  • Marina
  • Deck
  • Wood Flooring
  • Medical Services
  • Property is near public transit
  • Corner Lot

About This Home

As of February 2022

Special offering! Here is an opportunity to own a 6-Bedroom multi-family in South Salem. Two identical layouts with 3 bedrooms, 1 full bath, dining room, living room and eat-in kitchen with (front and back) decks for each unit. Also, great potential, on third level walk-up, to add even more living space. Family-owned and well-maintained for 85 years! Pride in ownership shines through with many details and updates, including original archways and mill-work, hardwood floors, some newer windows, new storm doors, new flooring in kitchens, paint, newer appliances, bathroom renovations, re-enforced decks, front decks with maintenance-free decking, extended driveway... Currently occupied by tenants, with leases until May (1st floor) & June (2nd floor). Ample amount of off-street parking, which is so important for snow removal days. Conveniently located close to downtown Salem and Salem State University, shops, restaurants, public transportation, making this an IDEAL INVESTMENT.

Last Agent to Sell the Property

Holly Baldassare

J. Barrett & Company Listed on: 01/13/2022

Last Buyer's Agent

Amy Wallick

Lamacchia Realty, Inc.

Lamacchia Realty, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,385

Year Built

  • Built in 1915

Lot Details

  • 5,663 Sq Ft Lot
  • Fenced
  • Corner Lot
  • Garden

Parking

  • 1 Car Garage
  • Driveway
  • Open Parking
  • Off-Street Parking

Home Design

  • Duplex
  • Brick Foundation
  • Stone Foundation
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 2,796 Sq Ft Home
  • Property has 1 Level

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 2 Full Bathrooms

Unfinished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Interior Basement Entry
  • Garage Access

Outdoor Features

  • Deck
  • Porch

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • Natural Gas Connected
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $3,660
  • Tax Lot 97
  • Assessor Parcel Number 71 ,2133837

Community Details

Amenities

  • Medical Services
  • Shops
  • Coin Laundry

Recreation

  • Marina
  • Bike Trail

Additional Features

  • 2 Units
  • Net Operating Income $43,920

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,385

Year Built

Built in 1915

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 2 Family - 2 Units Up/Down
  • Year Built: 1915
  • Buyer Agency: 2.0
  • Buyer Agency Type: %
  • Transaction Broker: 0
  • Transaction Broker Type: %
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Stories: 3

Interior Features

  • Flooring: Tile,Carpet,Hardwood
  • Interior Amenities: Unit 1 Rooms(Kitchen,Living RM/Dining RM Combo), Unit 2 Rooms(Kitchen,Living RM/Dining RM Combo)
  • Fireplace YN: No
  • Appliances: Unit 1(Range,Refrigerator), Unit 2(Range,Refrigerator), Gas Water Heater, Utility Connections for Gas Range
  • Total Bedrooms: 6
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Total Bathrooms: 2
  • Basement: Full, Walk-Out Access, Interior Entry, Garage Access, Unfinished
  • Living Area: 2796
  • Stories Total: 3
  • MAIN LO: C95243
  • LIST PRICE PER Sq Ft: 262.88
  • PRICE PER Sq Ft: 271.82
  • MAIN SO: AN2314

Exterior Features

  • Exterior Features: Garden
  • Construction Materials: Frame
  • Fencing: Fenced
  • Foundation Details: Stone, Brick/Mortar
  • Patio And Porch Features: Porch, Deck
  • Road Frontage Type: Public
  • Roof: Shingle
  • Waterfront YN: No

Garage/Parking

  • Garage Spaces: 1
  • Covered Parking Spaces: 1
  • Garage YN: Yes
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street, Paved
  • Total Parking Spaces: 6

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Marina, Public School, T-Station, University

Lot Info

  • Parcel Number: 71 ,2133837
  • Zoning: R2
  • Farm Land Area Units: Square Feet
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.13
  • Lot Size Area: 0.13
  • Lot Size Sq Ft: 5662.8
  • Lot Size Units: Acres
  • LOT SIZE: 5602
  • PAGE: 275

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 7385
  • Tax Book Number: 26566
  • Tax Lot: 97
  • Tax Map Number: 31

Multi Family

  • Gross Income: 43920
  • Net Operating Income: 43920
  • Number Of Units Total: 2
  • Total Actual Rent: 3660
  • LEVELS 1: 1
  • LEVELS 2: 1
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 1: 1
  • FLRS 2: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 13, 2022
Closed on
Feb 12, 2022
Sold by
Sahagian Nancy A and Sahagian Scott G
Bought by
Mino Ergjente and Mino Nikollaq
Seller's Agent
Holly Baldassare
J. Barrett & Company
Buyer's Agent
Amy Wallick
Lamacchia Realty, Inc.
List Price
$735,000
Sold Price
$760,000
Premium/Discount to List
$25,000
3.4%
Current Estimated Value
$847,840

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$87,840
Avg. Annual Appreciation
2.90%

Purchase Details

Closed on
Dec 6, 2012
Sold by
Msn Rt
Bought by
Sahagian Scott G and Sahagian Nancy A
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mino Ergjente $760,000 None Available
Sahagian Scott G -- --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/28/2022 02/28/22 Sold $760,000 +3.4% $272 / Sq Ft
01/17/2022 01/17/22 Pending -- -- --
01/13/2022 01/13/22 For Sale $735,000 -- $263 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,923 $698,700 $179,700 $519,000
2024 $7,584 $652,700 $179,700 $473,000
2023 $7,383 $590,200 $164,400 $425,800
2022 $7,384 $557,300 $158,300 $399,000
2021 $7,006 $507,700 $149,200 $358,500
2020 $6,633 $459,000 $134,000 $325,000
2019 $6,478 $429,000 $121,800 $307,200
2018 $5,923 $385,100 $113,300 $271,800
2017 $5,719 $360,600 $106,600 $254,000
2016 $5,336 $340,500 $86,500 $254,000
2015 $5,140 $313,200 $86,500 $226,700
Source: Public Records

Agents Affiliated with this Home

  • Holly Baldassare

    Seller's Agent in 2022

    Holly Baldassare

    J. Barrett & Company

    (978) 922-3683

    3 in this area

    68 Total Sales

    Holly Baldassare
    Section Image
  • Amy Wallick

    Buyer's Agent in 2022

    Amy Wallick

    Lamacchia Realty, Inc.

    (978) 767-0889

    3 in this area

    90 Total Sales

    Amy Wallick
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72933468

MLS Property Information Network (MLS PIN)

APN: SALE-000031-000000-000097

Massachusetts Essex County Salem 01970 South Salem

117 Loring Ave Unit 119, Salem, MA

This home is located at 117 Loring Ave Unit 119, Salem, MA 01970 since 13 January 2022 and is currently estimated at $847,840, approximately $303 per square foot. This property was built in 1915. 117 Loring Ave Unit 119 is a home located in Essex County with nearby schools including Saltonstall School, Horace Mann Laboratory, and Carlton Elementary School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MLS Property Information Network (MLS PIN) The property listing data and information, or the Images, 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, and the Images, 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, or as to the accuracy of any of the Images, set forth herein.

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