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$ 3,830,000
$ 3,700,000 3.5%
Est. payment /mo
Sold on 05/06/2025
5 Ropes & 8-10 Porter St Ct Salem, MA 01970
34 Beds
12 Baths
13,472 SqFt
UPDATED:
Key Details
Sold Price $3,830,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 13,472 sqft
Price per Sqft $284
MLS Listing ID 73339638
Bedrooms 34
Full Baths 12
Year Built 1915
Annual Tax Amount $28,941
Tax Year 2025
Lot Size 0.400 Acres
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
Investors take notice of a rare offering in downtown Salem. 5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story 6-unit buildings with a total square footage of 19,720± with a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages for additional income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and the opportunity to increase rents to market with minimal capital. The offering is near public transportation, restaurants, and many local amenities within walking distance of the subject properties.
Location
State MA
County Essex
Zoning R3
Interior
Flooring Wood, Tile, Vinyl
Exterior
Garage Spaces 6.0
Community Features Public Transportation, Shopping, Park, Walk/Jog Trails
Utilities Available for Gas Range, for Electric Range, Varies per Unit
Roof Type Shingle,Rubber
Building
Lot Description Level
Story 5
Foundation Stone
Sewer Public Sewer
Water Public
Listed by North Shore Realty Advisors
Bought with Dan Pouladian • North Shore Realty Advisors
Bought with Dan Pouladian • North Shore Realty Advisors