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You are here:
Contingent
19 Photos
$999,000
4 Unit
8 Beds
4 Baths
5866 SQFT
0.10 Acre
99 North St
Salem, MA 01970

Property Description

Here's your chance to invest in a prime piece of real estate poised to generate substantial income and build wealth over time. This highly visible commercial building is situated on a coveted corner lot, just half a mile from the communal rail, offering both convenience and high foot traffic. This mixed-use building features two four-bedroom residential units and two retail spaces, with a projected monthly gross income of $14,040 and a net of $90,322 annually. Located minutes from historical sites, top restaurants, shops, and Salem Harbor, this property is in the heart of a thriving community. Enjoy high foot traffic and excellent exposure, making it ideal for both residential and commercial tenants. Invest in this gem and secure a steady income stream in a vibrant, growing market. Residential rentals well below housing guidelines

Property Overview

Property Details click or tap to expand

Building Information

  • Total Units: 4
  • Total Floors: 7
  • Total Bedrooms: 8
  • Total Full Baths: 2
  • Total Half Baths: 2
  • Amenities: Medical Facility, Public Transportation, Shopping, T-Station
  • Basement Features: Full

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 110268
  • Gross Expenses: 33856
  • Net Operating Income: 76282

Utilities

  • Electric Info: Circuit Breakers, Underground
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1890
  • Type: 4 Family
  • Foundation Info: Poured Concrete
  • Roof Material: Rubber
  • Flooring Type: Wood
  • Lead Paint: Unknown
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73267089
  • Last Updated: 07/23/24

Property History click or tap to expand

Date Event Price Price/Sq Ft Source
07/23/2024Contingent$999,000$170MLSPIN
07/23/2024Contingent$999,000$170MLSPIN
07/23/2024Active$999,000$170MLSPIN
07/23/2024Active$999,000$170MLSPIN
07/19/2024New$999,000$170MLSPIN
07/19/2024New$999,000$170MLSPIN
09/07/2023Expired$1,900$2MLSPIN
07/15/2023Active$1,900$2MLSPIN
07/11/2023New$1,900$2MLSPIN

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View Breakdown

Seller's Representative: Debra L. Lovelace, Churchill Properties
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2.0
Facilitator Compensation: 2.0
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-07-23 10:54:00