6 Lathrop Street

Salem, MA 01970

$549,000
Price
5
Beds
2
Baths
1
1/2 Bath
1,945 Sq. Ft.
$282 / Sq. Ft.
1,945
Sq. Ft.
$282
per Sq. Ft.

Description

Cash buyers, contractors and developers take notice. This two-family home has been FULLY APPROVED FOR 3 UNITS, making it an ideal project for contractors looking to capitalize on the growing demand for multi-unit properties. Located in a highly sought-after area, this property is approved for residential units but is also zoned for commercial use, such as an a business or professional office, service establishment and/or retail, promising both convenience and potential for a lucrative return on investment....Cash buyers, contractors and developers take notice. This two-family home has been FULLY APPROVED FOR 3 UNITS, making it an ideal project for contractors looking to capitalize on the growing demand for multi-unit properties. Located in a highly sought-after area, this property is approved for residential units but is also zoned for commercial use, such as an a business or professional office, service establishment and/or retail, promising both convenience and potential for a lucrative return on investment. Fully Vacant - will need immediate rehab on first floor for occupancy. Water, sewer, and natural gas utilities have been capped. Perfect for condo conversion or buy, renovate and hold. With a short walk to both downtown Salem and Beverly, this two-family home with approval for three units is a rare find in this coveted location.
  1. Listed by Jenna Lovely • The Lovely Advisory LLC

Property Details for 6 Lathrop Street

Town
Salem
Area
MA-Salem
Garage Spaces
0
Parking Spaces
2.00
Parking Spaces Total
2

Location

Listing Courtesy of The Lovely Advisory LLC, Jenna Lovely
Add your commute
LISTING UPDATED: 04/08/2024 03:07 AM

Property Details for 6 Lathrop Street

StatusActive
MLS #73220171
Days on Market26
Taxes$5,128 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 2 Family - 2 Units Up/Down
Year Built1850
CountyEssex County

Location

Listing Courtesy of The Lovely Advisory LLC, Jenna Lovely
Add your commute

Building Information for 6 Lathrop Street

Stories3Residences2Year Built1850Building Size-Lot Size0.09 AC / 3,851 SF

Payment Calculator

$3,423 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,996

Property Taxes

$427

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6 Lathrop Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Tennis Court, Park, Walk/Jog Trails, Medical Facility, Laundromat, Bike Path, Conservation Area, Marina, Private School, Public School, T-Station, University
  • Living Area: 1945.0
  • SqFt with Basement: No
  • Total Units: 2
  • Waterfront: No
  • Water View: No
  • Year Built Details: Actual
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Unfinished Basement
  • Num of Baths: 3.0
  • Num of Full Baths: 2
  • Num of Half Baths: 1
  • Bathrooms Total Decimal: 2.50
  • Bathrooms Total Integer: 3
  • FireplaceYN: No
  • Fireplaces: 0
  • Interior Features: Living Room, Kitchen, Laundry Room, Mudroom, Dining Room
  • Interior Features: Window AC
  • SpaYN: No
Exterior Features
  • Lot Description: Zero Lot Line
  • Waterfront Features: Beach Front, 0 to 1/10 Mile To Beach
Parking Features
  • Covered Spaces: .00
  • Garage: No
Utilities
  • Cooling: Window AC
  • Cooling: Yes
  • Heating: Baseboard, Natural Gas
  • Heating: Yes
  • Sewer: Other (See Remarks)
  • Water: Other
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Disclosures: ZBA Decision granting Special Permit for 3rd unit is on record and has been extended to May 17,2024. Rendering shown is of approved plan. Buyer and buyer's agent to perform all due diligence. Listing Agent is related to Seller. Seller has never lived at the property. Utilities have been capped.
Tax Information
  • Tax ID: 2137470
  • Assessments: $409,900
  • Book: 39591
  • Tax Year: 2023
  • Zoning: B4
Building / Association Information
Living Characteristics
  • Beds Total: 5
  • Total Living Levels: 3
Other Building Characteristics
  • Foundation: Stone, Brick/Mortar
  • Cooling Units: 0
  • Cooling Zones: 0
  • Heat Units: 2
  • Heat Zones: 2
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: N
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: N
  • Levels U2: 2
Rental Info
Rental Info
  • Total Actual Rent: $.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2
  • Other Agent Compensation: 1

Property History for 6 Lathrop 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 6 Lathrop Street

Taxable ValueLand$157,300Additions$296,800Total$454,100
Tax Record2024$5,277 ($440 / month)
Home Facts
Baths2.5Total Finished SqFt1,945 SqFtAbove Grade Finished SqFt1,945 SqFtUnfinished Basement SqFt775 SqFtStories2Lot Size3,851 SqFtStyleDuplexYear Built1850ZoningB4CountyESSEXAPNSALE M:36 L:0337

Schools near 6 Lathrop 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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6 Lathrop Street is a multi-family home for sale in Salem, MA 01970. This property was listed for sale on April 4, 2024 by The Lovely Advisory LLC, it's currently listed at $549,000. It has been on the market for a total of 26 days and was last sold on June 5, 2006. This listing's school district is Salem School District. Nearby schools include Bates Elementary School, Horace Mann Laboratory and Witchcraft Heights Elementary School. 6 Lathrop Street is a 5-bed, 2.5-bath, 1,945 sqft multi-family home built in 1850.

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 The Lovely Advisory LLC, Jenna Lovely

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.