401 Essex St - Apartments FOR SALE


Salem, MA 01970- South Salem
$2,500,000 USD
978-973-7277
401 Essex St, Salem, MA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/24
null | 5.6% Cap Rate

401 Essex St
Salem, MA 01970
South Salem


OVERVIEW

Unique opportunity to own the historic Captain Nathaniel Osgood House, an elegant brick seven-family property built in 1815 and prominently situated within Salem's highly sought-after McIntire District. Rich in period charm and architectural character, the property consists of three (3) one-bedroom units, one (1) two-bedroom unit, and two (2) spacious one-plus-bedroom units. Each units showcases beautiful antique fireplaces, hardwood flooring, and an abundance of original historic detail.The building has been thoughtfully renovated throughout with granite countertops, stainless steel appliances, new bathrooms, efficient Navien heating systems, and updated electrical service. The property offers off-street parking for up to six vehicles. Adding to its appeal is a detached two-story carriage house located at the rear of the property, providing additional income. All tenants pay heat, HW and electric. Please see attached PDF for a rent roll and expenses.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$575 USD /SF

# OF UNITS

7

PRICE/UNIT

$357,143

CAP RATE

5.6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1817

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

B1

APN/PARCEL ID

SALE-000025-000000-000185

ASK ABOUT THIS PROPERTY

Francesca LittleLittle & Co., REALTORS®More Info
978-973-7277

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Francesca LittleLittle & Co., REALTORS®More Info
978-973-7277

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