286 Washington St, Salem, Massachusetts, United States

Report Listing

Home For Sale

$2,000,000

286 Washington St
Salem, Massachusetts, United States

3ba

Listed By: Realtyww Info

Listed On: 07/17/2024

Listing ID: GL11921848 View More Details

Description

Discover an exciting investment opportunity in the heart of historic Salem, MA with this twenty one (21) room rooming house. Perfectly situated in a prime location, this property offers a unique chance to own a meticulously maintained property that has been owned by the same family for over 40 years. Using 2023 numbers this is being offered at an 8% cap rate with projected rents for 2024 bringing to a 9.3% cap rate. A 5% vacancy has already been factored into the gross revenue. THIS PROPERTY IS TO BE SOLD WITH 108-122 LAFAYETTE ST AS A PACKAGE MLS# 73264543. Landlord is responsible for all utilities including heat/hw, electric and water/sewer. Seller is willing to explore a seller financing deal for the right buyer. Please see attached for detailed incomes and expenses. Rent roll changes weekly but can be provided upon request.

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Listed by: Francesca Little