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7 Palmer St
Salem, Massachusetts MA 01970-4909
Price: $679,900
Listing ID 72951822
Status Active
Bedrooms 5
Full Baths 3
Total Baths 3
SqFt 3,684
Acres 0.100
Year Built 1915

Property Description:

Great Investment Opportunity: This large, conveniently located 3 family offers many options to a live-in owner or an investor wanting to collect rents and build equity in an up and coming area; or to those interested in potential, future condominium conversion. Rooms are large with nice details, tall ceilings and wood floors. Property has a 2-car garage (in need of total rehab) and 4 car parking and small yard. The property overall is in need of many improvements and is being sold "as is." Limited information available as this is part of an estate. Many details are approximate for that reason. Fully tenanted (2 are TAW) with below market rents; tenants to remain with sale. Buyer to perform own due diligence. First showing will include access to only one-unit and basement. Proof of funds/pre-approval required prior to showing.

Primary Features

County: Essex
Property Sub Type: 3 Family
Property Type: Residential Income
Year Built: 1915


Bathrooms Total Decimal: 3
Building Area Units: Square Feet
Heat Units: 3
Living Area: 3684
Heat Zones: 3
Rooms Total: 13
Stories Total: 6


Covered Spaces: 2
Farm Land Area Units: Square Feet
Foundation Details: Stone
Garage: 1
Garage Spaces: 2
Lot Features: Level
Lot Size Area: 0.1
Lot Size Square Feet: 4225
Lot Size Units: Acres
Number Of Units Total: 3
Open Parking: 1
Parking Features: Paved Drive
Parking Total: 4
Sewer: Public Sewer
Water Source: Public


Building Area Source: Public Records
Country: US
Directions: One-way street, off Lafayette
Waterfront: no
Waterfront Features: Beach Front
Zoning: R3


Color: beige
FLRS 2: 2
FLRS 3: 3
Lead Paint: Unknown
Levels 1: 1
Levels 2: 1
Levels 3: 1
Listing Alert: No
Mls Status: Active
FLRS 1: 1
Offline List Number: 3394613
Page: 236
SqFt Disclosures: Some info approximate/to be confirmed: Rents-- 1st flr $1550; 2nd flr. $1100; 3rd $1190
SqFt Includes Basement: No
Year Built Details: Approximate
Year Built Source: Public Records


Buyer Agency Compensation: 2%
Compensation Based On: Net Sale Price
Disclosure: N
Down Payment Resource: Yes
Gross Income: 46080
Lease 1: N
Lease 2: N
Lease 3: N
List Price Per SqFt: 184.55
Net Operating Income: 46080
Price Per SqFt: 184.55
Sub Agency Offered: No
Tax Annual Amount: 7568
Tax Assessed Value: 571200
Tax Book Number: 26077
Tax Year: 2022
Total Actual Rent: 3840
Transaction Broker Compensation: 1/2%

Zoning Info

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