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SOLD 12/1/2015

31 Salem, Salem, MA 01970

16
beds
8
baths
6324
ft2
· 2744
ft2 lot

$870,000

$138 / ft2

Listing provided courtesy of Listing Broker: Dan Botwinik, Dan Botwinik
Source MLS PIN;
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INVESTMENT OPPORTUNITY! 8 Residential units each 2BR/1BA. 100% occupied. Fully deleaded with certs in hand. Hardwood floors, tile kitchens and baths, replacement windows, recently updated and separated heat and electric. Fully renovated, turnkey investment property. $9600 monthly rent roll, a great value for 8 brick units in Salem at a 10% capitalization rate! Lock in long term debt today on your future cash flow before rates increase! Priced to sell, this will not last. ***BOM due to buyer's inability to get financing***

HOA

$—/month

On market

3 months

Year built

1915

Property type

5 9 Family

Parking

MLS

71887730

Price / Sq.Ft.

$138 / ft2

Status

Sold

Home details for 31 Salem

Interior Features & Layout
Rooms Info
•   
Additional Rooms: Living Room, Kitchen
•   
Total Levels: 4, 9, 5
•   
Total Levels Unit 1: 1, 1
•   
Total Levels Unit 2: 1, 1
•   
Total Levels Unit 3: 2, 1
•   
Total Levels Unit 4: 1
•   
Total Rooms Unit 1: 4
•   
Total Rooms Unit 2: 4
•   
Total Rooms Unit 3: 4
•   
Total Rooms Unit 4: 4
•   
Total Rooms: 20, 24, 20
Interior Features
•   
Electric Details: Circuit Breakers
•   
Utility Description: Hot Water
•   
Interior Features: Lead Certification Available, Stone/Granite/Solid Counters, Upgraded Cabinets, Upgraded Countertops, Wood Flooring, Remodeled, Stone/Ceramic Tile Floor
Heating & Cooling
•   
Heating Units: 8
•   
Heating Description Unit 1: Gas
•   
Heating Zones: 8
Appliances
•   
Hot Water: Natural Gas
•   
Unit 1 Appliances: Range, Refrigerator
Flooring
•   
Unit 4 Floor Level: 2
Bedrooms Info
•   
Total Beds: 16
•   
Unit 4 Beds: 2
•   
Unit 3 Beds: 2
•   
Unit 2 Beds: 2
•   
Unit 1 Beds: 2
Bathrooms Info
•   
Full Baths: 8, 8
•   
Unit 4 Full Baths: 1
•   
Unit 3 Full Baths: 1
•   
Unit 2 Full Baths: 1
•   
Unit 1 Full Baths: 1
Property, Lot, Community & Exterior Features
Community Info
•   
Total Units In Complex: 8
Exterior Features
•   
Color: Brick
•   
Building Exterior Details: City View(s)
Property Type
•   
Property Type: 5-9 Family
•   
Mls Prop Type: 5-9 Family
•   
Mls Property Type: Multi-family
Community Features
•   
Area Amenities: Public Transportation, Park, Medical Facility, Marina, Public School, University
Lot Info
•   
Zoning: R3
•   
Lot Description: City View(s)
•   
Acres: 0.06
Building Info
•   
Foundation Size: 1602
•   
Sqft Source: Public Record
•   
Foundation: Fieldstone
•   
Roof: Tar & Gravel
•   
Year Built Description: Actual
•   
Water/Sewer Built: 1100
•   
Lead Paint: Certified Treated
•   
Year Built Source: Public Record
•   
Construction Materials: Brick
Basement Info
•   
Basement
•   
Basement Details: Full, Concrete Floor, Unfinished Basement
Parking Info
•   
Parking Descriptions: On Street Permit
Utilities & Other Information
Water & Sewer Info
•   
Water Source: City/Town Water
•   
Sewer: 2200, City/Town Sewer
Utilities
•   
Electric: 3200
Listing Details, Costs & Financing Information
Financial Info
•   
Insurance Expenses: 4000
•   
Fin Code: Conv. Fixed
•   
Finances Source: Estimated
•   
Apod Available
•   
Operating Expense: 12/14
Listing Info
•   
Offline Listing Number: 2146888
•   
Status: Sold
Lease Info
•   
Gross Revenue: 25139
•   
Gross Income: 115200
•   
Net Operating Income: 90061
•   
Rme: 6500
•   
Monthly Rent Unit 1: 1200
•   
Monthly Rent Unit 2: 1200
•   
Monthly Rent Unit 3: 1200
•   
Lease 1
•   
Monthly Rent Unit 4: 1200
•   
Lease 2
•   
Lease 3
•   
Lease 4
•   
Total Rent: 9600
•   
Rfs: 700
Tax/Assessment Info
•   
Tax Year: 2015
•   
Assessed Value: 480100.00
•   
Taxes: 8139.00
Listing Contacts
•   
Selling Agent: CN206297
School Neighborhood & Directions
Location
•   
Street Number: 31
•   
Map Book: 33140
•   
Map Page: 219
•   
Directions: Just south of the downtown, take Congress to Harbor Street and left on Salem.
•   
Road Type: Public, Paved
Other
Other
•   
Main So: NB2565
Calculation
•   
Price Per Sqft: 137.57
•   
List Price Per Sqft: 142.30
•   
Sold Price Per Sqft: 137.57
•   
Cdom Property: 118
•   
Cdom Broker: 118
•   
Cdom: 118

Neighborhood snapshot

65
Properties for sale
18
Median days on market
$331.38
Median sold price/sqft
105.72%
Sold/List %
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Property History for 31 Salem

02/28/2019
02/28/2019
Public Record
sold
Public Record
$1,215,000
+39.66%
12/07/2015
12/07/2015
MLS PIN #71887730
sold
MLS PIN #71887730
$870,000
12/01/2015
12/01/2015
Public Record
sold
Public Record
$870,000
+45.00%
02/28/2014
02/28/2014
Public Record
sold
Public Record
$600,000
+17.65%
04/06/2012
04/06/2012
Public Record
sold
Public Record
$510,000
+10.39%
See more property history

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