288-292 Washington & 5 Porter St Ct new Save Request In-Person Tour Request Virtual Tour
Salem,MA 01970
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Active
Purchase Type For Sale
Square Footage 24,126 sqft
Price per Sqft $186
MLS Listing ID 73452143
Bedrooms 27
Full Baths 19
Year Built 1915
Annual Tax Amount $38,616
Tax Year 2024
Lot Size 0.260 Acres
Acres 0.26
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
Salem, MA multifamily portfolio: 19 units spanning three buildings at 288–292 Washington Street and 5 Porter Street Court. The package features a balanced mix of twelve (12) one-bedroom units, six (6) two-bedroom units, and one (1) three-bedroom unit. Owner provides heat and hot water to tenants. The 5 Porter St Ct property includes approximately 6–8 off-street parking spaces for added tenant convenience. In-place rents are below current market levels, presenting a clear value-add opportunity to align rents with market and further stabilize operations over time. Set near Downtown Salem, the properties offer immediate access to a thriving year-round market—walkable to restaurants, retail, the waterfront, museums, and the MBTA for easy Boston access. Strong demand drivers and in-town convenience support stable occupancy and long-term rent growth.
Location
State MA
County Essex
Zoning R3
Direction Please use GPS
Interior
Interior Features Living Room,Dining Room,Kitchen
Heating Oil
Flooring Wood
Exterior
Community Features Public Transportation,Park,T-Station
Utilities Available for Gas Range,for Electric Range
Roof Type Rubber
Total Parking Spaces 8
Garage No
Building
Lot Description Other
Story 4
Foundation Stone
Sewer Public Sewer
Water Public
Others
Senior Community false