13 Ocean Terrace Salem, MA 01970
South Salem NeighborhoodEstimated payment $8,679/month
Highlights
- Deck
- 2 Fireplaces
- 4-minute walk to Forest River Park
- Wood Flooring
- Porch
About This Home
Wake up to the sound of the ocean and watch the sunrise from your window—this is everyday life at this rare 4-family home in Salem’s beloved Forest River Park neighborhood. With ocean views from nearly every room, this property offers the perfect blend of lifestyle and income. The flexible layout features three bright and efficient 1-bedroom, 1-bath units, plus a sun-filled 3–4 bedroom, 2-bath townhouse-style unit—ideal for owner-occupancy or maximizing rental potential. Enjoy two updated kitchens, several refreshed baths, beautiful hardwood floors, and a roof replaced less than 3 years ago. With five off-street parking spots and a shared yard, outdoor living is just as appealing as the view. Enjoy mornings at Forest River Park, spend weekends on nearby beaches, and explore downtown Salem’s shops, restaurants, and culture—all just minutes from your door. Whether you’re building a portfolio or dreaming of coastal living with bonus income, this one-of-a-kind property delivers.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,615
Year Built
- Built in 1900
Lot Details
- 5,667 Sq Ft Lot
- Street terminates at a dead end
Home Design
- Brick Foundation
- Stone Foundation
Interior Spaces
- 3,647 Sq Ft Home
- 2 Fireplaces
- Basement Fills Entire Space Under The House
Flooring
- Wood
- Tile
- Vinyl
Bedrooms and Bathrooms
- 7 Bedrooms
- 5 Full Bathrooms
Parking
- 5 Car Parking Spaces
- Driveway
- Paved Parking
- Open Parking
- Off-Street Parking
- Assigned Parking
Outdoor Features
- Deck
- Porch
Listing and Financial Details
- Assessor Parcel Number M:33 L:0693
Community Details
Overview
- 4 Units
- Property has 1 Level
Building Details
- Operating Expense $1,056
- Net Operating Income $114,444
Map
Home Values in the Area
Average Home Value in this Area
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 | $9,348 | $824,300 | $200,100 | $624,200 |
| 2024 | $8,807 | $757,900 | $190,100 | $567,800 |
| 2023 | $8,626 | $689,500 | $175,500 | $514,000 |
| 2022 | $8,606 | $649,500 | $169,700 | $479,800 |
| 2021 | $8,159 | $591,200 | $158,000 | $433,200 |
| 2020 | $7,843 | $542,800 | $149,200 | $393,600 |
| 2019 | $7,769 | $514,500 | $141,600 | $372,900 |
| 2018 | $7,009 | $455,700 | $134,600 | $321,100 |
| 2017 | $6,564 | $413,900 | $113,500 | $300,400 |
| 2016 | $6,223 | $397,100 | $108,200 | $288,900 |
| 2015 | $5,862 | $357,200 | $99,500 | $257,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/16/2025 07/16/25 | Pending | -- | -- | -- |
| 07/10/2025 07/10/25 | For Sale | $1,399,999 | +514.0% | $384 / Sq Ft |
| 09/08/2016 09/08/16 | Sold | $228,000 | -4.6% | $242 / Sq Ft |
| 07/08/2016 07/08/16 | Pending | -- | -- | -- |
| 06/30/2016 06/30/16 | For Sale | $239,000 | 0.0% | $254 / Sq Ft |
| 06/22/2016 06/22/16 | Pending | -- | -- | -- |
| 06/14/2016 06/14/16 | For Sale | $239,000 | -- | $254 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | -- | |
| Quit Claim Deed | -- | -- | |
| Deed | $425,000 | -- | |
| Deed | $425,000 | -- | |
| Deed | $191,500 | -- | |
| Deed | $191,500 | -- | |
| Deed | $140,000 | -- | |
| Deed | $140,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $383,790 | Stand Alone Refi Refinance Of Original Loan | |
| Closed | $383,790 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $305,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $327,359 | No Value Available | |
| Previous Owner | $382,000 | Purchase Money Mortgage |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73402986
APN: SALE-000033-000000-000687
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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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