Salem, MA 01970,5 Ocean Ter
Salem, MA 01970,5 Ocean Ter
Salem, MA 01970,5 Ocean Ter
27
$620,000
$579,900
6.9%
Est.Price: ?

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5 BD
3 BA
3,540 SqFt

5 Ocean Ter Salem, MA 01970

Est. payment /mo
SOLD DATE : 07/21/2018

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Key Details

Sold Price $620,000

Property Type Multi-Family

Sub Type 3 Family

Listing Status Sold

Purchase Type For Sale

Square Footage 3,540 sqft

Price per Sqft $175

MLS Listing ID 72338837

Sold Date 07/21/18

Bedrooms 5

Full Baths 3

Year Built 1900

Annual Tax Amount $7,616

Tax Year 2018

Lot Size 3,049 Sqft

Acres 0.07

Property Description

Well maintained 3 Unit in very desirable location. Located just a few blocks from Salem State University and approx 1 mile to downtown Salem right off of Lafayette Street. Walk to park and beach. ***Gross rents listed in here are PROJECTED not actual*** Owners occupy 1st and 2nd floor units. First Floor Unit is 2 bed, 1 bath will be delivered vacant; Second Floor unit is 2 bed, 1 bath will also be delivered vacant, and Third Floor Unit is 1 bed that is currently rented for $1,300 and is TAW. Roof less than 6 years old. Hot Water Heater was installed in 2014. Tenants pay their own gas electric. Separate utilities. Quiet dead-end location. Off-street parking for 4 cars. Projected Gross Rent Roll $60,000/year. See attached for income and expense breakdown. Excellent opportunity for investor, condo conversion (can be delivered vacant) or live in one unit and rent out the other two units. Property will not last long. Seller reserves the right to accept or deny any and all offers.

Location

State MA

County Essex

Zoning R1

Direction Off of Lafayette Street in between downtown Salem and Salem State perfect location to rent

Rooms

Basement Full

Interior

Appliance Gas Water Heater

Exterior

Community Features Public Transportation, Shopping, Park, Laundromat, T-Station

Waterfront Description Beach Front, Harbor, 1/10 to 3/10 To Beach, Beach Ownership(Public)

Total Parking Spaces 4

Garage No

Building

Story 6

Foundation Stone

Sewer Public Sewer

Water Public

Others

Acceptable Financing Contract

Listing Terms Contract

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Listed by Wellsco, LLC
Bought with Riode Jean Felix • Redfin Corp.

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agent

Michael Hannigan

Realtor® | License ID: MA9569074

+1(617) 888-6606

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