49 Lawrence Street, Salem, MA 01970
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$1,050,000
3 Unit
9 Beds
3 Baths
3159 SQFT
0.16 Acre

Property Description

**Attention Investors and Homeowners!** Whether you're seeking an outstanding long-term investment, a 1031 exchange before year-end, or looking to offset your mortgage with rental income, this property offers the perfect opportunity. Rent out all three units and generate over $100k in gross annual income, flip for condos, or live in the beautifully updated first-floor unit. Located just a few blocks from the proposed new commuter rail station. Exceptionally updated three-family home features 3 bedrooms and 1 bathroom in each unit. The units have porches to enjoy summer evenings. Full basement for storage and it walks out to nice size yard. Off street parking for 4-5 cars. Two units are already fully rented to excellent tenants, while the first-floor unit is available for you to rent or occupy as you see fit. Rare to find an all 3 bedroom unit multifamily. Don’t miss this incredible chance!

Property Details tap to expand

Building Information

  • Total Units: 3
  • Total Floors: 6
  • Total Bedrooms: 9
  • Total Full Baths: 3
  • Amenities: House of Worship, Medical Facility, Public School, Public Transportation, Shopping, T-Station
  • Basement Features: Full, Interior Access, Unfinished Basement, Walk Out
  • Common Rooms: Kitchen, Living Room
  • Common Interior Features: Tile Floor
  • Common Appliances: Dishwasher, Freezer, Microwave, Range, Refrigerator
  • Common Heating: Extra Flue, Forced Air, Gas, Heat Pump, Oil
  • Common Cooling: None

Financial

  • APOD Available: Yes
  • Gross Operating Income: 63300
  • Net Operating Income: 63300

Utilities

  • Electric Info: Circuit Breakers, Underground
  • Utility Connections: for Gas Range
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

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

Unit 3 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 3 Family
  • Construction Type: Aluminum, Frame
  • Foundation Info: Brick, Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Hardwood, Tile, Wood
  • Lead Paint: Unknown
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73298609
  • Last Updated: 10/10/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
10/10/2024Contingent$1,050,000$332MLSPIN
10/08/2024Active$1,050,000$332MLSPIN
10/04/2024New$1,050,000$332MLSPIN

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Seller's Representative: Helen Bolino, Berkshire Hathaway HomeServices Commonwealth Real Estate
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 2024-10-10 14:19:00

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