Property Description

Rare opportunity to acquire a 5-unit multifamily property in a popular and accessible Danvers location! Situated on a corner lot with approximately 3,653 square feet of living area, this income-producing asset consists of a desirable mix of five 2BD/1BA and 1BD/1BA units, generating approximately $119,000 in annual gross income. The property offers desirable tenant amenities including ample off-street parking with two spaces per unit and common laundry facilities. Several units feature updated kitchens, renovated baths, refreshed flooring, and spacious layouts, while the building retains much of its original character and charm. Two units have the added benefit of private exterior entrances. Located near downtown Danvers, shopping, restaurants, parks, commuter routes, and public transportation, this is an attractive addition to any investment portfolio. Strong in-place cash flow, stable tenancy, and future upside potential make this a compelling offering.

Property Details tap to expand

Building Information

  • Total Units: 5
  • Total Floors: 5
  • Total Bedrooms: 7
  • Total Full Baths: 5
  • Amenities: Bike Path, Conservation Area, Highway Access, House of Worship, Marina, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, T-Station, Walk/Jog Trails
  • Common Rooms: Kitchen, Living Room, Office/Den
  • Common Interior Features: Bathroom With Tub & Shower, Bathroom with Shower Stall, Tile Floor
  • Common Appliances: Dishwasher, Dryer, Range, Refrigerator, Washer
  • Common Heating: Active Solar, Electric Baseboard, Extra Flue, Gas, Heat Pump, Hot Water Radiators
  • Common Cooling: None

Financial

  • APOD Available: Yes
  • Expenses Source: Estimated, Owner Provided, Projected
  • Gross Operating Income: 118935
  • Gross Expenses: 38859
  • Net Operating Income: 80076

Utilities

  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Gas, Heat, Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Gas, Heat, Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Included in Rent: Gas, Heat, Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Included in Rent: Gas, Heat, Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5+ Family - 5+ Units Up/Down
  • Construction Type: Aluminum, Frame
  • Foundation Info: Brick, Fieldstone
  • Roof Material: Shingle, Slate
  • Flooring Type: Hardwood, Tile, Wall to Wall Carpet, Wood
  • Lead Paint: Unknown
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73543444
  • Last Updated: 07/04/26

Property History tap to expand

Date Event Price Price/Sq Ft Source
07/04/2026Active$1,525,000$417MLSPIN
06/30/2026New$1,525,000$417MLSPIN

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Seller's Representative: The Pizzo Group, Aluxety
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2026-07-04 03:05:00