Address
10 Howard Street, Salem, MA
Price
$ 1,699,000
Property Attributes
- MLS#73240469
- TypeMulti-Family
- CountyESSEX
- CitySalem
- Zip01970
- Style5+ Family - Rooming House
- Year Built1900
- Taxes$ 11088
- Price$ 1,699,000
- Bedrooms15
- Full Bathrooms7
- Half Bathrooms0
- Sqr Footage5110
- Lot Size0.04 Acres
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
Property Description
Fantastic investment opportunity! This licensed lodging house offers 15 units with a total of 24 rooms, boasting 4 private baths and 3 common baths. Conveniently situated near the commuter train station and downtown Salem, tenants enjoy easy access to transportation and amenities. With 2 parking spaces, convenience meets practicality. Recently painted and featuring updated cabinetry, this property is turnkey and ready for new ownership. Possibly convert to regular apartments (many rooms have connecting doorways) or condos (city approval may be required). New furnace was put in 2019. Roof reshingled late spring 2021. Floors just completely refinished. 90% of windows are new. Don't miss out on this lucrative venture! Floor plans available.
| Price History | |
|---|---|
| 5/20/2024 | Listed $1,699,000 |
General Features
| Interior Features | Kitchen,Laundry Room,Living Room |
|---|---|
| Sewer | Public Sewer |
| Heating | Natural Gas |
| Zoning | R2 |
| Construction Materials | Frame |
| Year Built | 1900 |
| Electric | Circuit Breakers,200+ Amp Service |
| Property SubType | 5+ Family - Rooming House |
| Tax Year | 2024 |
| Gross Income | 200000 |
| Waterfront Features | Beach Front,1/2 to 1 Mile To Beach |
| Community Features | Public Transportation,Shopping,T-Station |
| County | Essex |
| Net Operating Income | 148733 |
| Operating Expense | 41267 |
| Insurance Expense | 7280 |
| Property Type | Residential Income |
| Garage Y/N | No |
| Rent Includes | Unit 1(Heat,Electric,Gas,Water,Hot Water),Unit 2(Heat,Electric,Water,Hot Water),Unit 3(Heat,Electric,Water,Hot Water),Unit 4(Heat,Electric,Water,Hot Water) |
| Total Rooms | 24 |
| Status | Active |
| Directions | Brown Street to Howard Street. |
| City | Salem |
| Disclosures | Rooming House license is for 15 units. Buyer to do all due diligence on the transfer of the license. Driveway may be partially on neighbor's land. |
| Senior Community Y/N | No |
| NumberOfUnitsTotal | 15 |
| Lot Size Units | Acres |
| Lot Size Square Feet | 1668 |
| Waterfront Y/N | No |
| Year Built Details | Approximate |
| Tax Annual Amount | 11088 |
| Electric Expense | 12000 |
| Home Warranty Y/N | No |
| Water Sewer Expense | 6000 |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Year Built Source | Public Records |
| Tax Assessed Value | 954200 |
| Total Actual Rent | 16700 |
| Compensation Based On | Net Sale Price |
| Sub-Agency Relationship Offered | No |
Interior Features
| Basement | Full,Interior Entry,Bulkhead |
|---|---|
| Flooring | Wood |
| Total Stories | 11 |
| Heating Y/N | Yes |
| Window Features | Insulated Windows |
| Fireplace Y/N | No |
| Full Baths | 7 |
| Total Bedrooms | 15 |
| Total Baths | 7 |
Exterior Features
| Parking Features | Paved Drive |
|---|---|
| Water Source | Public |
| Total Parking | 1 |
| Lot Size Area | 0.04 |
| Foundation Details | Other |
| Spa | No |
| Building Area Total | 5110 |
| Lot Size Acres | 0.04 |
| Open Parking Y/N | Yes |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 01970
Price
Taxes
Visits
Year Built
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