Under Contract

17 Salem St

Salem MA, 01970

$1,199,000


$237.90 per sqft

Under Contract

7 Baths

5,040 sqft

Commercial

Built in 1923

Projected Income $10,300 mo/ $123,600 annually. Well renovated, mixed use building in Thriving Salem, MA. Extensively renovated in 2021, Fire sprinkler system. 15 min walk to T Stop/Downtown. 5 mins to Pickering Wharf. Upgraded sep. elec, new heat & a/c. 2 res. units (have not been rented). Both well-updated res w sep elec. 1 res unit: 6 rooms/ 4 bedrooms w new central a/c, new heat, laundry rm, 2 bthrms (1 in main bdrm). Projected rent: $3k per month. Other unit: 5 rooms/ 3 bdrms w new central a/c, new heat, laundry room, 2 bthrms (1 in main bdrm). Projected rent: $2800+ per month. Each of the 3 commercial spaces, have new bthrms & a/c. Tenanted by 2 Churches (TAW's) who have been tens for a while & would like to stay. 1 church rents 2 units (17 Salem), $3k a mo. + utils. Other Church rents 1 unit $1500 + utils. 17 Salem has 4 finished/unhtd rms in the bsmnt. Add heat for an additional 828 sq ft. Please include in offer:Buyer will cooperate if Seller elects to sell as a 1031 exchange

73176617

MLS ID

November 2, 2023

Listed

February 22, 2024

Updated

Map

17 Salem St
Salem MA, 01970

Interior Features

Bathrooms

7 Baths


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.08 Acres


Roof

Rubber

Other Property Details

Taxes

$11,402


Tax Frequency

Annually


Garage

No


Parking Total

0


View

No


County

Essex


Pool

No


Zoning

R3


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

2/17/2024

Under Contract

1/14/2024

Price Change

$1,199,000

-8%

 

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