$945,450
SOLD JUN 28, 2024
8 Beds
4 Baths
3,363 Sq Ft
2,949 Sq Ft Lot

Recently Sold

$281 Per Sq Ft

13 Days on Market

Highlights

  • Golf Course Community
  • Property is near public transit
  • Corner Lot
  • Medical Services
  • Wood Flooring
  • 3-minute walk to Patten Park

About This Home

As of June 2024

Turnkey de-leaded investment property with strong rental income and quality long-term TAW tenants. Spacious Victorian era 3-Family located in convenient North Salem, less than a mile from the Salem MBTA Station and Downtown, and just 2 miles from Rt. 128. Ideal unit mix with two large 5 room / 3 bdrm / 1 bath units and one 4 room / 2 bdrm / 1 bath unit. Tenants pay electric and heat. 1st and 3rd floor units renovated 2019, plus new chimneys and brand new coin-op laundry in basement for extra income. New front roof in 2020, and added 3rd parking space and new hot water heater for unit 2 (paid by tenant). Exterior features low maintenance vinyl siding, replacement windows, a sweet little front porch and fenced-in back yard. Off-street parking for 3 cars.

Last Agent to Sell the Property

Gary Blattberg

RE/MAX Beacon

RE/MAX Beacon

Last Buyer's Agent

Vinh Nguyen

Hilltop Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,250

Year Built

  • Built in 1890

Lot Details

  • 2,949 Sq Ft Lot
  • Near Conservation Area
  • Corner Lot
  • Garden

Home Design

  • Stone Foundation
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 3,363 Sq Ft Home
  • Insulated Windows
  • Living Room

Kitchen

  • Range
  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Wood
  • Pine Flooring
  • Vinyl

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Full Bathrooms
  • Bathtub with Shower

Finished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Interior Basement Entry
  • Block Basement Construction

Parking

  • 3 Car Parking Spaces
  • Driveway
  • Open Parking
  • Off-Street Parking

Outdoor Features

  • Rain Gutters

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • No Cooling
  • Forced Air Heating System
  • 4 Heating Zones
  • Heating System Uses Natural Gas
  • Individual Controls for Heating
  • Separate Meters
  • 100 Amp Service

Listing and Financial Details

  • Total Actual Rent $6,600
  • Rent includes unit 1(water hot water), unit 2(none), unit 3(hot water)
  • Assessor Parcel Number M:17 L:0311,2129724

Community Details

Overview

  • 3 Units
  • Property has 1 Level

Amenities

  • Medical Services
  • Shops

Recreation

  • Golf Course Community
  • Park
  • Jogging Path
  • Bike Trail

Building Details

  • Electric Expense $252
  • Insurance Expense $3,150
  • Water Sewer Expense $1,465
  • Operating Expense $14,580
  • Net Operating Income $66,070

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,250

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 3 Family
  • Year Built: 1890
  • Buyer Agency: 1
  • Transaction Broker: 1
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Year Round: Yes
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: VirtualTour
  • Stories: 6

Interior Features

  • Flooring: Wood, Vinyl, Varies, Pine, Vinyl / VCT
  • Interior Amenities: Bathroom With Tub & Shower, Remodeled, Upgraded Cabinets, Living Room, Kitchen
  • Fireplace YN: No
  • Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator
  • Total Bedrooms: 8
  • Full Bathrooms: 4
  • Total Bathrooms: 4
  • Total Bathrooms: 4
  • Basement: Full, Finished, Walk-Out Access, Interior Entry, Concrete
  • Living Area: 3363
  • Spa YN: No
  • Stories Total: 6
  • Window Features: Insulated Windows
  • MAIN LO: AN8171
  • LIST PRICE PER Sq Ft: 282.49
  • PRICE PER Sq Ft: 281.13
  • MAIN SO: AN0328

Exterior Features

  • Exterior Features: Rain Gutters, Garden
  • Construction Materials: Frame
  • Foundation Details: Stone
  • Home Warranty YN: No
  • Road Frontage Type: Public
  • Road Surface Type: Paved
  • Roof: Shingle
  • Waterfront YN: No
  • Waterview Flag: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Off Street, Driveway
  • Total Parking Spaces: 3

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range
  • Cooling: None
  • Heating: Forced Air, Natural Gas, Individual, Central
  • Cooling Y N: No
  • Electric: Circuit Breakers, 100 Amp Service, Individually Metered
  • Heating YN: Yes
  • Water Source: Public
  • SEWAGE DISTRICT: SESD
  • HEAT UNITS: 4
  • HEAT ZONES: 4
  • COOLING ZONES: 0
  • Hot Water: Natural Gas, Tank

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Bike Path, Conservation Area, House of Worship, Private School, Public School, T-Station, University, Sidewalks
  • Rent Includes: Unit 1(Water,Hot Water), Unit 2(None), Unit 3(Hot Water)
  • Senior Community YN: No

Fee Information

  • Water Sewer Expenses: 1465

Lot Info

  • Parcel Number: M:17 L:0311,2129724
  • Zoning: R2
  • Farm Land Area Units: Square Feet
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.07
  • Lot Size Area: 0.07
  • Lot Size Sq Ft: 2949
  • Lot Size Units: Acres
  • PAGE: 53
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2024
  • Tax Annual Amount: 8250
  • Tax Book Number: 37153

Multi Family

  • Electric Expense: 252
  • Gross Income: 80650
  • Insurance Expense: 3150
  • Net Operating Income: 66070
  • Number Of Units Total: 3
  • Operating Expense: 14580
  • Total Actual Rent: 6600
  • LEVELS 1: 1
  • Basement Included Sq Ft: Yes
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 3: N
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 1
  • FLRS 3: 3
  • FLRS 2: 2

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/28/2024 06/28/24 Sold $945,450 -0.5% $281 / Sq Ft
05/22/2024 05/22/24 Pending -- -- --
05/08/2024 05/08/24 For Sale $950,000 +69.3% $282 / Sq Ft
11/14/2018 11/14/18 Sold $561,000 +4.1% $167 / Sq Ft
09/26/2018 09/26/18 Pending -- -- --
09/20/2018 09/20/18 For Sale $539,000 -- $160 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73234987

MLS Property Information Network (MLS PIN)