41 Salem St, Salem, MA 01970
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$1,500,000
6 Unit
13 Beds
6 Baths
5320 SQFT
0.07 Acre

Property Description

41 Salem Street is a three-story residential investment property. The unit matrix consists of one (1), 1-Bedroom/1-Bathroom unit, three (3), 2-Bedroom/1-Bathroom units, and two (2), 3-Bedroom/1-Bathroom units in 5,320 square feet of living area on a .072-acre parcel. All units have updated kitchens with granite countertops and dishwashers. The Property is separately metered for electric, and electric heat, which the tenants pay directly. The Landlord is responsible for common area electric, gas-fired hot water, and domestic water and sewer. The Property is well-located on Salem Street, just over a half-mile away from Salem’s Historic Downtown with easy access to public transportation and numerous retail amenities. Salem is located 15 miles along the north shore from Downtown Boston, a major draw for many of the city’s residents.

Property Details tap to expand

Building Information

  • Total Units: 6
  • Total Floors: 3
  • Total Bedrooms: 13
  • Total Full Baths: 6
  • Amenities: Bike Path, Golf Course, House of Worship, Laundromat, Marina, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, Swimming Pool, Tennis Court, T-Station, University, Walk/Jog Trails
  • Basement Features: Unfinished Basement

Financial

  • APOD Available: Yes
  • Gross Operating Income: 136920
  • Gross Expenses: 49547
  • Net Operating Income: 87373

Utilities

  • Electric Info: Individually Metered
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

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

Unit 2 Description

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

Construction

  • Year Built: 1915
  • Type: 5-9 Family
  • Foundation Info: Other (See Remarks)
  • Roof Material: Shingle, Slate
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73340304
  • Last Updated: 03/03/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
03/03/2025New$1,500,000$282MLSPIN

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Seller's Representative: Stephen Girolamo, Horvath & Tremblay
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2.25
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2025-03-03 11:31:00