364-366 Essex Street, Salem, MA 01970
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$2,200,000
9 Unit
10 Beds
9 Baths
7033 SQFT
0.13 Acre

Property Description

364-366 Essex Street contains one (1) 2-Bedroom/1-Bathroom unit, five (5) 1-Bedroom/1-Bathroom units, one (1) 2-Room Studio unit, and two (2) Studio units with 7,033 square feet of gross living area in 9,044 square feet of gross area. The Property is situated upon a 0.13-acre parcel and features four (4) off-street parking spaces. Located in the heart of downtown Salem, 364-366 Essex Street benefits from one of the North Shore's most desirable apartment markets, supported by a diverse employment base, exceptional walkability, and year-round visitor activity. The Landlord is responsible for providing oil powered heat & electric powered hot water to both buildings. The Landlord provides common area electricity to both buildings, as well as unit electric to 364 Essex, while Tenants at 366 Essex pay their own unit electric. The Landlord is responsible for providing city water & sewer to all units. The opportunity exists to acquire a well-maintained asset in a desirable North Shore location.

Property Details tap to expand

Building Information

  • Total Units: 9
  • Total Floors: 5
  • Total Bedrooms: 10
  • Total Full Baths: 9
  • Amenities: Bike Path, Conservation Area, Golf Course, Highway Access, House of Worship, Laundromat, Marina, Medical Facility, Other (See Remarks), Park, Private School, Public School, Public Transportation, Shopping, Stables, Swimming Pool, T-Station, Tennis Court, University, Walk/Jog Trails
  • Basement Features: Partially Finished
  • Common Heating: Electric Baseboard, Oil, Radiant

Financial

  • APOD Available: Yes
  • Expenses Source: Other (See Remarks), Owner Provided
  • Gross Operating Income: 190800
  • Gross Expenses: 66227
  • Electric Expenses: 7591
  • Water/Sewer: 3183
  • INSC: 5641
  • Repairs & Maintenance: 4500
  • RFS: 1574
  • Miscellaneous Expense: 2850
  • Net Operating Income: 124573

Utilities

  • Electric Info: Common, Individually Metered, Other (See Remarks)
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

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

Unit 2 Description

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

Unit 3 Description

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

Unit 4 Description

  • Included in Rent: Electric, Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1850
  • Type: 5-9 Family
  • Foundation Info: Other (See Remarks)
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73561757
  • Last Updated: 08/15/26

Property History tap to expand

Date Event Price Price/Sq Ft Source
08/15/2026Active$2,200,000$313MLSPIN
08/11/2026New$2,200,000$313MLSPIN

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Seller's Representative: Stephen Girolamo, Horvath & Tremblay
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 2026-08-15 03:05:00