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You are here:
Home Massachusetts Salem Multi-Family Homes for Sale

10 Howard Street Salem, MA 01970

10 Howard Street, Salem, MA
68 Days on Boston Pads
Price Reduced $100,100
0 Photos
$1,598,900
15 Unit
15 Beds
7 Baths
5110 SQFT
0.04 Acre
10 Howard Street
Salem, MA 01970

Property Description

Fantastic investment opportunity! This licensed lodging house offers 15 units with a total of 24 rooms, boasting 4 private baths and 3 common baths. Conveniently situated near the commuter train station and downtown Salem, tenants enjoy easy access to transportation and amenities. With 2 parking spaces, convenience meets practicality. Recently painted and featuring updated cabinetry, this property is turnkey and ready for new ownership. Possibly convert to regular apartments (many rooms have connecting doorways) or condos (city approval may be required). New furnace was put in 2019. Roof reshingled late spring 2021. Floors just completely refinished. mOST windows are newer. Don't miss out on this lucrative venture! Floor plans available. SELLER MAY PROVIDE PARTIAL FINANCING with great credit. Gross income is projected and not actual. Buyers to perform due diligence.

Property Overview

Property Details click or tap to expand

Building Information

  • Total Units: 15
  • Total Floors: 11
  • Total Bedrooms: 15
  • Total Full Baths: 7
  • Amenities: Public Transportation, Shopping, T-Station
  • Basement Features: Bulkhead, Full, Interior Access
  • Common Rooms: Kitchen, Living Room
  • Common Heating: Extra Flue, Gas, Heat Pump

Financial

  • APOD Available: No
  • Expenses Source: Estimated, Owner Provided, Projected
  • Gross Operating Income: 200000
  • Gross Expenses: 41267
  • GSE: 4800
  • Electric Expenses: 12000
  • Water/Sewer: 6000
  • INSC: 7280
  • Net Operating Income: 148733

Utilities

  • Electric Info: 200 Amps, Circuit Breakers, Underground
  • Energy Features: Insulated Windows
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Electric, Gas, Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 4
  • Levels: 1

Unit 2 Description

  • Included in Rent: Electric, Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Included in Rent: Electric, Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Included in Rent: Electric, Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5+ Family - Rooming House
  • Construction Type: Aluminum, Frame
  • Foundation Info: Other (See Remarks)
  • Flooring Type: Wood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73240469
  • Last Updated: 07/26/24

Property History click or tap to expand

Date Event Price Price/Sq Ft Source
07/24/2024Back on Market$1,598,900$313MLSPIN
07/16/2024Contingent$1,598,900$313MLSPIN
07/13/2024Active$1,598,900$313MLSPIN
07/09/2024Price Change$1,598,900$313MLSPIN
06/29/2024Active$1,599,000$313MLSPIN
06/25/2024Price Change$1,599,000$313MLSPIN
05/24/2024Active$1,699,000$332MLSPIN
05/20/2024New$1,699,000$332MLSPIN
10/01/2010Canceled$690,000$135MLSPIN
07/19/2010Active$839,000$164MLSPIN
07/19/2010Active$690,000$135MLSPIN
07/19/2010Active$729,000$143MLSPIN
07/19/2010Active$779,000$152MLSPIN

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View Breakdown

Seller's Representative: The Green Team, Armstrong Field Real Estate
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2.0
Facilitator Compensation: 1.0
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2024-07-26 11:27:00