233 Lafayette, Salem, MA 01970
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$7,995,000
26 Unit
32 Beds
26 Baths
17755 SQFT
0.24 Acre

Property Description

Rare opportunity to acquire a fully renovated 26-unit brick asset in one of Salem’s most active rental markets. The Property consists of twelve (12) one-bedroom units, six (6) two-bedroom units and eight (8) studios. 233 Lafayette Street offers investors immediate scale, strong in-place income, and a true turnkey profile with major capital improvements already executed. The property has undergone an extensive renovation in 2020, including a new roof, fully upgraded electrical, new boilers and hot water storage and a new sprinkler system. Unit interiors have been upgraded across the board with updated kitchens and baths with 15 of the units featuring in-unit laundry. See attached OM for detailed financials.

Property Details tap to expand

Building Information

  • Total Units: 26
  • Total Floors: 3
  • Total Bedrooms: 32
  • Total Full Baths: 26
  • Amenities: Highway Access, House of Worship, Medical Facility, Park, Public Transportation, T-Station, University
  • Basement Features: Finished, Other (See Remarks)

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 692640
  • Gross Expenses: 180643
  • Net Operating Income: 477341

Utilities

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

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1915
  • Type: 5+ Family - 5+ Units Up/Down
  • Construction Type: Brick
  • Foundation Info: Poured Concrete
  • Roof Material: Rubber
  • Flooring Type: Wood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73494351
  • Last Updated: 04/05/26

Property History tap to expand

Date Event Price Price/Sq Ft Source
04/05/2026Active$7,995,000$450MLSPIN
04/01/2026New$7,995,000$450MLSPIN

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Seller's Representative: Francesca Little, Little & Co., REALTORS®
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 2026-04-05 04:05:00