NOT LISTED FOR SALE

65 Boston St Salem, MA 01970

Gallows Hill Neighborhood
14 Beds
10 Baths
5,439 Sq Ft
8,712 Sq Ft Lot

Sale Details

Date Sold: June 10, 2022

Last sale price $1,425,000 $262 Per Sq Ft

50 Days on Market

Highlights

  • Property is near public transit
  • 10 Fireplaces
  • Covered Patio or Porch

About This Home

As of June 2022

Unique investment opportunity in a developing part of Salem. Property was converted to condos in 2008 and only one was sold. Seller is offering the 7 remaining condos. Most of the units have been updated with granite countertops, stainless steel appliances, decorative fireplaces and hardwood floors. Some units have laundry hookups. All units have separate electric and gas range. Owner pays for heat and hot water. Property also comes with 10 off street parking spaces with an option to add more. All TAW. Due to COVID-19 we will only be showing the vacant units by appointment with masks required. All other units will be shown within 48 hours of an accepted offer. Please see attached PDF for detailed income and expenses.

Last Agent to Sell the Property

Francesca Little

Little & Co., REALTORS® Listed on: 10/28/2020

Last Buyer's Agent

George Fallon

1 Percent Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,140

Year Built

  • Built in 1850

Lot Details

  • 8,712

Home Design

  • Stone Foundation
  • Shingle Roof
  • Slate Roof
  • Tar and Gravel Roof
  • Rubber Roof

Interior Spaces

  • 5,439 Sq Ft Home
  • 10 Fireplaces
  • Dishwasher

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 10 Full Bathrooms

Parking

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

Additional Features

  • Covered Patio or Porch
  • 8,712 Sq Ft Lot
  • Property is near public transit
  • Oil Water Heater

Listing and Financial Details

  • Total Actual Rent $14,460
  • Rent includes unit 1(heat water hot water), unit 2(heat water hot water), unit 3(heat water hot water), unit 4(heat water hot water)
  • Assessor Parcel Number 4840379

Community Details

Overview

  • 7 Units
  • Property has 1 Level

Building Details

  • Electric Expense $1,200
  • Insurance Expense $3,250
  • Water Sewer Expense $2,520
  • Operating Expense $51,082
  • Net Operating Income $86,288

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,140

Year Built

Built in 1850

Lot Details

8,712 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • Year Built: 1850
  • Buyer Agency Type: %
  • Transaction Broker Type: %
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Gross/Full Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Stories: 11

Interior Features

  • Interior Amenities: Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen), Unit 3 Rooms(Living Room,Kitchen), Unit 4 Rooms(Living Room,Kitchen)
  • Fireplace YN: Yes
  • Fireplaces: 10
  • Appliances: Unit 1(Range,Refrigerator), Unit 2(Range,Dishwasher,Refrigerator), Unit 3(Range,Dishwasher,Refrigerator), Unit 4(Range,Dishwasher,Refrigerator), Oil Water Heater
  • Total Bedrooms: 14
  • Full Bathrooms: 10
  • Total Bathrooms: 10
  • Living Area: 5439
  • Stories Total: 11
  • MAIN LO: C67600
  • MAIN SO: C86500

Exterior Features

  • Foundation Details: Stone
  • Patio And Porch Features: Covered
  • Roof: Shingle, Slate, Tar/Gravel, Rubber
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street
  • Total Parking Spaces: 10

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, T-Station
  • Rent Includes: Unit 1(Heat,Water,Hot Water), Unit 2(Heat,Water,Hot Water), Unit 3(Heat,Water,Hot Water), Unit 4(Heat,Water,Hot Water)

Fee Information

  • Water Sewer Expenses: 2520

Lot Info

  • Parcel Number: 4840379
  • Zoning: R2
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.2
  • Lot Size Sq Ft: 8712
  • Lot Size Units: Acres
  • LOT SIZE: 8499

Tax Info

  • Tax Year: 2019
  • Tax Annual Amount: 12140

Multi Family

  • Electric Expense: 1200
  • Insurance Expense: 3250
  • Net Operating Income: 86288
  • Number Of Units Total: 7
  • Operating Expense: 51082
  • Total Actual Rent: 14460
  • LEVELS 1: 1
  • LEVELS 4: 1
  • LEVELS 3: 1
  • LEASE 4: N
  • LEASE 3: N
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 3: 3
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
06/10/2022 06/10/22 Sold $1,425,000 -4.7% $262 / Sq Ft
12/17/2020 12/17/20 Pending -- -- --
11/30/2020 11/30/20 Price Changed $1,495,000 -3.5% $275 / Sq Ft
10/28/2020 10/28/20 For Sale $1,550,000 -- $285 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Agents Affiliated with this Home

  • Francesca Little

    Seller's Agent in 2022

    Francesca Little

    Little & Co., REALTORS®

    (978) 745-4447

    3 in this area

    33 Total Sales

    Francesca Little
    Section Image
  • George Fallon

    Buyer's Agent in 2022

    George Fallon

    1 Percent Realty, LLC

    (978) 375-6150

    1 in this area

    4 Total Sales

    George Fallon
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72749539

MLS Property Information Network (MLS PIN)
Massachusetts Essex County Salem 01970 Gallows Hill

65 Boston St, Salem, MA

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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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