2 Essex Street

Salem, MA 01970

$1,050,000
Last Sold Price
5
Beds
5
Baths
1
1/2 Bath
5,608 Sq. Ft.
$187 / Sq. Ft.
5,608
Sq. Ft.
$187
per Sq. Ft.

Description

Exceptional investment opportunity. 6 unit multi family building in the heart of Salem. The iconic home to Ziggy's Donuts, offered for the first time in 57 years, is available for investors, developers and individuals seeking the advantages of fixed income properties. Own within walking distance of Salem Willows, Salem Harbor, Historic Downtown, Winter Island, shops, beaches, trains, restaurants and parks. The building features replacement windows, vinyl siding and newer gas water heaters. Comprised...Exceptional investment opportunity. 6 unit multi family building in the heart of Salem. The iconic home to Ziggy's Donuts, offered for the first time in 57 years, is available for investors, developers and individuals seeking the advantages of fixed income properties. Own within walking distance of Salem Willows, Salem Harbor, Historic Downtown, Winter Island, shops, beaches, trains, restaurants and parks. The building features replacement windows, vinyl siding and newer gas water heaters. Comprised of 5 one bedroom, one bathroom units and one commercial unit, walk up attic and full basement. All units have individual utility meters. Rents are well below market value due to long term tenants. The attic is an oversized, dormered room with water views and opportunities for expansion. Interior photos are of unit 1 which is currently vacant. All units are similar in size and layout with slight variation. Ziggy's Donuts operates out of grandfathered commercial space on 1st floor.
  1. Listed by Michael McNiff • Coldwell Banker Realty - Beverly
  2. Listed by Brenna McNiff • Coldwell Banker Realty - Beverly

Property Details for 2 Essex Street

Town
Salem
Area
MA-Salem
Garage Spaces
0
Parking Spaces
.00

Location

Listing Courtesy of Coldwell Banker Realty - Beverly, Michael McNiff; Coldwell Banker Realty - Beverly, Brenna McNiff

Sold By Coldwell Banker Realty - Beverly, Kevin Pietrini

Add your commute
LISTING UPDATED: 09/01/2022 01:06 PM

Property Details for 2 Essex Street

StatusSold
MLS #73003787
Days on Market31
Taxes$10,616 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built1860
CountyEssex County

Location

Listing Courtesy of Coldwell Banker Realty - Beverly, Michael McNiff; Coldwell Banker Realty - Beverly, Brenna McNiff

Sold By Coldwell Banker Realty - Beverly, Kevin Pietrini

Add your commute

Building Information for 2 Essex Street

Stories9Residences6Year Built1860Building Size-Lot Size0.06 AC / 2,692 SF

Payment Calculator

$6,615 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,730

Property Taxes

$885

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2 Essex Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Shopping, Tennis Court, Park, Walk/Jog Trails, Medical Facility, Laundromat, Conservation Area, House of Worship, Marina, Public School
  • Current Financing: Cash
  • Living Area: 5608.0
  • Color: Gray
  • SqFt with Basement: No
  • Total Units: 6
  • Waterfront: No
  • Water View: Yes
  • Year Built Details: Actual
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Unit 2(Range, Dishwasher, Refrigerator), Unit 3(Range, Unit 4(Range, Gas Water Heater, Utility Connections for Electric Range
  • Basement Features: Full, Interior Access, Concrete Floor
  • Num of Baths: 6.0
  • Num of Full Baths: 5
  • Num of Half Baths: 1
  • Bathrooms Total Decimal: 5.50
  • Bathrooms Total Integer: 6
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood, Vinyl, Carpet
  • Interior Features: Unit 1 Rooms(Kitchen), Unit 2 Rooms(Living Room, Kitchen), Unit 3 Rooms(Living Room, Unit 4 Rooms(Living Room
Exterior Features
  • Construction: Frame
  • Lot Description: Corner Lot
  • Roof Material: Shingle
  • Waterfront Features: Beach Front, Harbor, Sound, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
  • Waterview Features: Harbor, Sound
Parking Features
  • Covered Spaces: .00
  • Garage: No
Utilities
  • Cooling: Unit 1(Central Air)
  • Cooling: Yes
  • Electric: Individually Metered
  • Heating: Unit 1(Forced Air, Gas), Unit 2(Electric Baseboard, Electric), Unit 3(Electric Baseboard, Unit 4(Electric Baseboard
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Utility Connections: for Electric Range
  • Water: Public, Individual Meter
Property Information
Property Info
  • Year Round: Yes
  • Farm Land Area Units: Square Feet
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Disclosures: One,First Floor Unit Being Used As Grandfathered Commercial Space. All Appliances In Residential Units Left As Gifts,Ziggy’s Appliances Excluded. Property Sold "as Is". Flood Insurance Req'd.
Tax Information
  • Listing Terms: Contract
  • Tax ID: M:41 L:0217,4078614
  • Assessments: $801,200
  • Book: 25544
  • Tax Year: 2022
  • Zoning: R2
Building / Association Information
Living Characteristics
  • Beds Total: 5
  • Total Living Levels: 9
Other Building Characteristics
  • Foundation: Stone, Irregular
  • Cooling Units: 1
  • Cooling Zones: 1
  • Heat Units: 6
  • Heat Zones: 6
Income / Expenses
  • GOI: $60,600.00
  • NOI: $60,600.00
Unit Information
Unit 1 Description
  • Floor U1: 1
  • 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: U
  • Levels U3: 0
Unit 4 Description
  • Floor U4: 2
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $5,850.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2
  • Other Agent Compensation: 1

Property History for 2 Essex 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 2 Essex Street

Taxable ValueLand$166,800Additions$827,200Total$994,000
Home Facts
Baths5.5Total Finished SqFt5,608 SqFtAbove Grade Finished SqFt5,608 SqFtUnfinished Basement SqFt1,480 SqFtStories4Lot Size2,692 SqFtStyleOffice BuildingYear Built1860CountyESSEXAPNSALE M:41 L:0217

Schools near 2 Essex 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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Similar Sold Homes

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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 Coldwell Banker Realty - Beverly, Michael McNiff; Coldwell Banker Realty - Beverly, Brenna McNiff

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.