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5 Ocean Ter Salem, MA 01970
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Key Details
Sold Price $620,000
Property Type Multi-Family
Sub Type 3 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,540 sqft
Price per Sqft $175
MLS Listing ID 72338837
Sold Date 07/21/18
Bedrooms 5
Full Baths 3
Year Built 1900
Annual Tax Amount $7,616
Tax Year 2018
Lot Size 3,049 Sqft
Acres 0.07
Property Description
Well maintained 3 Unit in very desirable location. Located just a few blocks from Salem State University and approx 1 mile to downtown Salem right off of Lafayette Street. Walk to park and beach. ***Gross rents listed in here are PROJECTED not actual*** Owners occupy 1st and 2nd floor units. First Floor Unit is 2 bed, 1 bath will be delivered vacant; Second Floor unit is 2 bed, 1 bath will also be delivered vacant, and Third Floor Unit is 1 bed that is currently rented for $1,300 and is TAW. Roof less than 6 years old. Hot Water Heater was installed in 2014. Tenants pay their own gas electric. Separate utilities. Quiet dead-end location. Off-street parking for 4 cars. Projected Gross Rent Roll $60,000/year. See attached for income and expense breakdown. Excellent opportunity for investor, condo conversion (can be delivered vacant) or live in one unit and rent out the other two units. Property will not last long. Seller reserves the right to accept or deny any and all offers.
Location
State MA
County Essex
Zoning R1
Direction Off of Lafayette Street in between downtown Salem and Salem State perfect location to rent
Rooms
Basement Full
Interior
Appliance Gas Water Heater
Exterior
Community Features Public Transportation, Shopping, Park, Laundromat, T-Station
Waterfront false
Waterfront Description Beach Front, Harbor, 1/10 to 3/10 To Beach, Beach Ownership(Public)
Total Parking Spaces 4
Garage No
Building
Story 6
Foundation Stone
Sewer Public Sewer
Water Public
Others
Acceptable Financing Contract
Listing Terms Contract
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Bought with Riode Jean Felix • Redfin Corp.