58 Bridge Street
58 Bridge Street
$965,000
9
10
4,501
4,501
$214
Sold 8/3/22
Description
Investors: Rare opportunity to buy a Salem MA 6 Family located in the desirable Salem Neck neighborhood with easy access to public transportation, boating, public beaches, and downtown Salem and Beverly MA. Current Cap Rate is 7% at a $950,000 valuation. Heat, hot water and electric are separate for each of the units. Property is sold AS IS with tenants. All Tenants are TAW. Property is in need of updating. Projected Cap Rate after updating is 8.2% based on a valuation of $1,250,000. Reasonable projected...Investors: Rare opportunity to buy a Salem MA 6 Family located in the desirable Salem Neck neighborhood with easy access to public transportation, boating, public beaches, and downtown Salem and Beverly MA. Current Cap Rate is 7% at a $950,000 valuation. Heat, hot water and electric are separate for each of the units. Property is sold AS IS with tenants. All Tenants are TAW. Property is in need of updating. Projected Cap Rate after updating is 8.2% based on a valuation of $1,250,000. Reasonable projected rents were used. Note: There are 7 gas hot water boilers and 7 gas hot water tanks as the townhouse unit has two heating systems and 2 hot water tanks, one for each floor. This property is a Potential Condominium Conversion. Request our Investment Analysis of this Property. Offer Instructions: for Financed Offers, include a commercial loan pre-approval; for Cash Offers include proof of funds.
- Listed by Kathleen Sullivan • RE/MAX 360
- Listed by Terrence Sullivan • RE/MAX 360
Property Details for 58 Bridge Street
Town
Salem
MLS AreaSalem Neck
AreaMA-Salem-Salem Neck, MA-Salem
Garage Spaces0
Parking Spaces5.00
Parking Spaces Total5
Location
LISTING UPDATED: 08/04/2022 12:19 PM
Property Details for 58 Bridge Street
Status | Sold |
---|---|
MLS # | 73001343 |
Days on Market | 21 |
Taxes | $8,397 / year |
HOA Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-family / 5-9 Family |
Year Built | 1870 |
County | Essex County |
Location
Building Information for 58 Bridge Street
Stories7Residences6Year Built1870Building Size-Lot Size0.12 AC / 5,114 SF
Payment Calculator
$5,966 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 58 Bridge Street
Property History for 58 Bridge Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 58 Bridge Street
Taxable ValueLand$153,400Additions$592,000Total$745,400
Tax Record2024$8,662 ($722 / month)
Home Facts
Baths7Total Finished SqFt4,501 SqFtAbove Grade Finished SqFt4,501 SqFtUnfinished Basement SqFt1,917 SqFtStories3Lot Size5,114 SqFtStyleMulti-Family Res (5+ Units)Year Built1870ZoningR2CountyESSEXAPNSALE M:36 L:0169
Schools near 58 Bridge 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 | ||
Witchcraft Heights Elementary School PublicK to 5 | ||
Horace Mann Laboratory 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.
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