385-387 Salem St - Apartments FOR SALE


Malden, MA 02148- Maplewood
$1,350,000 USD
617-470-2327
385-387 Salem St, Malden, MA for Sale
$1,350,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

385-387 Salem St
Malden, MA 02148
Maplewood


OVERVIEW

Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Residential & the Commercial Units are vacant.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$241 USD /SF

# OF UNITS

5

PRICE/UNIT

$270,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

385-387 Salem St, Malden

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Apartments, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,422 SF

ZONING

NB

APN/PARCEL ID

MALD-000102-000731-000104

ASK ABOUT THIS PROPERTY

Tanyeli BallingerLeading Edge Real EstateMore Info
617-470-2327

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Tanyeli BallingerLeading Edge Real EstateMore Info
617-470-2327

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.