10 Howard Street

Salem, MA 01970

$1,699,000
Price
15
Beds
7
Baths
5,110 Sq. Ft.
$332 / Sq. Ft.
5,110
Sq. Ft.
$332
per Sq. Ft.

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...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. 90% of windows are new. Don't miss out on this lucrative venture! Floor plans available.
  1. Listed by The Green Team • Armstrong Field Real Estate
  2. Listed by Jim Armstrong • Armstrong Field Real Estate

Property Details for 10 Howard Street

Town
Salem
Area
MA-Salem
Garage Spaces
0
Parking Spaces
1.00
Parking Spaces Total
1

Location

Listing Courtesy of Armstrong Field Real Estate, The Green Team; Armstrong Field Real Estate, Jim Armstrong
Add your commute
LISTING UPDATED: 05/24/2024 03:08 AM

Property Details for 10 Howard Street

StatusActive
MLS #73240469
Days on Market26
Taxes$11,088 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5+ Family - Rooming House
Year Built1900
CountyEssex County

Location

Listing Courtesy of Armstrong Field Real Estate, The Green Team; Armstrong Field Real Estate, Jim Armstrong
Add your commute

Building Information for 10 Howard Street

Stories11Residences15Year Built1900Building Size-Lot Size0.04 AC / 1,668 SF

Payment Calculator

$10,196 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,272

Property Taxes

$924

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 10 Howard Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, T-Station
  • Living Area: 5110.0
  • SqFt with Basement: No
  • Total Units: 15
  • Waterfront: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Full, Interior Access, Bulkhead
  • Num of Baths: 7.0
  • Num of Full Baths: 7
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 7.00
  • Bathrooms Total Integer: 7
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood
  • Interior Features: Kitchen, Laundry Room, Living Room
  • SpaYN: No
  • Window Features: Insulated Windows
Exterior Features
  • Construction: Frame
  • Waterfront Features: Beach Front, 1/2 to 1 Mile To Beach
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive
  • Open Parking: Yes
  • Parking Features: Paved Drive
Utilities
  • Electric: Circuit Breakers, 200+ Amp Service
  • Heating: Natural Gas
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Disclosures: Rooming House license is for 15 units. Buyer to do all due diligence on the transfer of the license. Driveway may be partially on neighbor's land.
Tax Information
  • Tax ID: M:35 L:0151,2136304
  • Assessments: $954,200
  • Book: 30697
  • Tax Year: 2024
  • Zoning: R2
Building / Association Information
Living Characteristics
  • Beds Total: 15
  • Total Living Levels: 11
Other Building Characteristics
  • Foundation: Other
  • Cooling Units: 0
Income / Expenses
  • Electricity: $12,000.00
  • Annual Expenses Source: Estimated, Owner, Projected
  • GOI: $200,000.00
  • Gross Scheduled Income: $4,800.00
  • Insurance: $7,280.00
  • GRE: $41,267
  • NOI: $148,733.00
  • Operating Expense: $41,267.00
  • WSE: $6,000.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 4
  • Lease U1: N
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 1
  • Lease U2: N
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 2
  • Lease U3: N
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 2
  • Lease U4: N
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $16,700.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2.0
  • Other Agent Compensation: 2.0

Property History for 10 Howard Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 10 Howard Street

Taxable ValueLand$178,800Additions$775,400Total$954,200
Tax Record2024$11,088 ($924 / month)
Home Facts
Baths5Total Finished SqFt5,110 SqFtAbove Grade Finished SqFt5,110 SqFtUnfinished Basement SqFt1,432 SqFtStories4Lot Size1,668 SqFtStyleMulti-Family Res (5+ Units)Year Built1900ZoningR2CountyESSEXAPNSALE M:35 L:0151

Schools near 10 Howard Street

This home is within Salem School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - K to 5
Rating
School
Distance
Bates Elementary School
PublicK to 5

Horace Mann Laboratory
PublicK to 5

Witchcraft Heights Elementary School
PublicK to 5

Carlton Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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10 Howard Street is a multi-family home for sale in Salem, MA 01970. This property was listed for sale on May 20, 2024 by Armstrong Field Real Estate, it's currently listed at $1,699,000. It has been on the market for a total of 26 days and was last sold on September 30, 2011. This listing's school district is Salem School District. Nearby schools include Bates Elementary School, Horace Mann Laboratory and Witchcraft Heights Elementary School. 10 Howard Street is a 15-bed, 7-bath, 5,110 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Armstrong Field Real Estate, The Green Team; Armstrong Field Real Estate, Jim Armstrong

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, 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., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.