NOT LISTED FOR SALE

8 - 8 1/2 Herbert St Salem, MA 01970

Derby Street Neighborhood
10 Beds
9 Baths
5,265 Sq Ft
2,614 Sq Ft Lot

Last Sold August 03, 2021

Last sale price $1,626,000 $309 Per Sq Ft

10 Days on Market

Highlights

  • Wood Flooring
  • Patio
  • 3-minute walk to Derby Garden
  • Fenced Yard
  • Garden

About This Home

As of August 2021

Rare, 9 unit investment property for sale at a very attractive 7.1% Cap Rate. Located in the historic Derby Street area, minutes from Salem Common, Hawthorne Hotel, numerous shops and restaurants, Peabody Essex Museum, Salem Harbor, Salem Train Station and nearby beaches at Salem Willows Park, Collins Cove, Winter Island and Dead Horse Beach. The 9 units (8 one-bed and one lead compliant two-bed unit) are distributed across a 2 family and a 7 unit building. All leases are TAWs and many tenants have been there for several years. Pro-forma analysis and rent roll are available to qualified buyers. All offers must include pre-approval from lender and proof of funds. First showings to qualified buyers will be by appointment between 1 pm - 3 pm on Saturday June 5 and Sunday June 6. Face masks required.

Last Listed By

Kathy Sullivan

RE/MAX Beacon Listed on: 06/01/2021

RE/MAX Beacon

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1900

Lot Details

  • Year Round Access
  • Fenced Yard
  • Garden

Flooring

  • Wood
  • Tile

Utilities

  • Water Holding Tank
  • Natural Gas Water Heater

Additional Features

  • Window Screens
  • Patio
  • Basement

Property Details

Home Type

Multi-Family

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Multi-family
  • Other Agent: 1.00
  • Year Built Description: Approximate, Renovated Since
  • List Price Per Sq Ft: 313.39
  • Comp Based On: Net Sale Price
  • Year Built: 1900
  • Lead Paint: Certified Treated, Unknown
  • Year Round: Yes
  • Levels: 3
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3
  • Year Built: 1900

Interior Features

  • Flooring: Wood, Tile
  • Total Flrs: 10
  • No Bedrooms: 10
  • Total Brs: 10
  • Full Bathrooms: 9
  • Total Fbh: 9
  • No Rooms: 13
  • Basement: Y
  • Basement Features: Full, Interior Access
  • Main Lo: AN4305
  • Main So: AN4096
  • Estimated Sq Ft: 5265.00

Exterior Features

  • Beach Ownership: Public
  • Beachfront Flag: Yes
  • Beach Miles To: 1 to 2 Mile
  • Construction: Frame, Brick
  • Roof Material: Asphalt/Fiberglass Shingles
  • Exterior: Shingles, Brick
  • Exterior Features: Patio, Screens, Fenced Yard, Garden Area
  • Foundation: Fieldstone, Granite

Garage/Parking

  • Parking Feature: On Street Permit

Utilities

  • Sewer: City/Town Sewer
  • Water: City/Town Water
  • Electric Features: Circuit Breakers, Common, Individually Metered
  • Hot Water: Natural Gas, Tank
  • Utility Connections: for Gas Range, for Electric Dryer, Washer Hookup

Condo/Co-op/Association

  • Amenities: Public Transportation, Shopping, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Marina, Private School, Public School, T-Station

Lot Info

  • Assessments: 917000.00
  • Acre: 0.06
  • Lot Size: 2657.00
  • Page: 367
  • Zoning: R2
  • Lot Description: Fenced/Enclosed, Level

Green Features

  • Energy Features: Insulated Windows

Multi Family

  • APOD Available: Yes
  • Heat Units: 2
  • Total Levels: 5
  • Total Rent: 12560
  • Total Rms: 25
  • No Units: 9
  • Mf Type: 5-9 Family

Tax Info

  • Taxes: 12767.00
  • Tax Year: 2021

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

Property History

Date Event Price Change Sq Ft Price
08/03/2021 08/03/21 Sold $1,626,000 -1.5% $309 / Sq Ft
06/11/2021 06/11/21 Pending -- -- --
06/01/2021 06/01/21 For Sale $1,650,000 -- $313 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kathy Sullivan

    Seller's Agent in 2021

    Kathy Sullivan

    RE/MAX

    (781) 771-9949

    1 in this area

    62 Total Sales

    Kathy Sullivan
    Section Image
  • Terry Sullivan

    Seller Co-Listing Agent in 2021

    Terry Sullivan

    RE/MAX

    (781) 771-9929

    1 in this area

    35 Total Sales

    Terry Sullivan
    Section Image
  • Laurence Tamkin

    Buyer's Agent in 2021

    Laurence Tamkin

    Boston Commercial Realty

    (617) 922-4121

    1 in this area

    34 Total Sales

    Laurence Tamkin
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72840948

MLS Property Information Network (MLS PIN)

Massachusetts Essex County Salem 01970 Derby Street

8 - 8 1/2 Herbert St, Salem, MA

Homes for Sale in Salem, MA

This home is located at 8 - 8 1/2 Herbert St, Salem, MA 01970 since 01 June 2021. This property was built in 1900. 8 - 8 1/2 Herbert St is a home located in Essex County with nearby schools including Saltonstall School, Carlton Elementary School, and Bates 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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