Salem, MA multifamily portfolio: 19 units spanning three buildings at 288–292 Washington Street and 5 Porter Street Court. The package features a balanced mix of twelve (12) one-bedroom units, six (6) two-bedroom units, and one (1) three-bedroom unit. Owner provides heat and hot water to tenants. The 5 Porter St Ct property includes approximately 6–8 off-street parking spaces for added tenant convenience. In-place rents are below current market levels, presenting a clear value-add opportunity to align rents with market and further stabilize operations over time. Set near Downtown Salem, the properties offer immediate access to a thriving year-round market—walkable to restaurants, retail, the waterfront, museums, and the MBTA for easy Boston access. Strong demand drivers and in-town convenience support stable occupancy and long-term rent growth.
- Heating System:
- Oil
- Parking:
- Off Street
- Construction:
- Brick
- Flooring:
- Wood
- Sewer:
- Public Sewer
- Water:
- Public
- Disclosure:
- verification of condition & contract terms prior to closing., Ring doorbell on the property audio and video. Jacuzzi will remain, washer and dryer are negotiable
- Electric Feature:
- 200+ Amp Service
- Garage Parking
- Interior Features:
- Kitchen, Dining Room, Living Room
- Lead Paint:
- Unknown
- Rent Fee Includes:
- Unit 2(heat, Hot Water), Unit 1(heat
- Market Time:
- 48
- Parking Spaces:
- 8
- Tax Year:
- 2024
- Status:
- Closed
- Price Per Sqft:
- $174
- Zoning:
- R3
- No Units:
- 19
- Orig Price:
- $4,500,000
- LEASE:
- No
- Waterfront:
- No
- MlsStatus:
- Sold
- City:
- Salem
- State:
- MA
- County:
- Essex
- Postal Code:
- 01970
- Longitude:
- W71° 6' 24.1''
- Latitude:
- N42° 30' 59.9''
Residential Income
288-292 Washington & 5 Porter St Ct, Salem, Massachusetts
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Price :
- $4,500,000
- Bedrooms :
- 27
- Rooms :
- 65
- Total Bathrooms :
- 19
- Full Bathrooms :
- 19
- Square Footage :
- 24,126 Sqft
- Year Built :
- 1915
- Lot Area :
- 0.26 Acre
- Listing ID :
- 73452143
- Stephen E. Robb
- View website
- 617-212-0251
-
srobb@robbenterprises.com