Log In/Sign Up
Your email has been sent.
1 Prince St - 1-7 Prince st & 48-54 Harbor st Salem MA 8 Unit Apartment Building Offered at $3,660,180 CAD at a 5.77% Cap Rate Salem, MA 01970
Executive Summary
Turnkey 8-unit investment opportunity in Salem. The Property consists of two four-family buildings deeded together, totaling eight (8) 2-bedroom units, along with 10 off-street parking spaces. Heat and hot water are included in rent. The property has been extensively updated, featuring renovated kitchens and baths with granite countertops and stainless steel appliances, updated electrical, a new roof on the Harbor Street building, and new insulation in both attics and walls. Additional highlights include basement storage and a clean, well-maintained condition, making this an ideal opportunity for investors seeking a low-maintenance, stabilized asset with upside through future rent optimization. See attached for the OM with detailed financials.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$313,256
|
$47.06
|
| Other Income |
$2,818
|
$0.42
|
| Vacancy Loss |
$15,663
|
$2.35
|
| Effective Gross Income |
$300,411
|
$45.13
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$89,136
|
$13.39
|
| Net Operating Income |
$211,275
|
$31.74
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $313,256 |
| Annual Per SF | $47.06 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,818 |
| Annual Per SF | $0.42 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $15,663 |
| Annual Per SF | $2.35 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $300,411 |
| Annual Per SF | $45.13 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $89,136 |
| Annual Per SF | $13.39 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $211,275 |
| Annual Per SF | $31.74 |
Property Facts
| Price | $3,660,180 CAD | Property Type | Multifamily |
| Price Per Unit | $457,522 CAD | Building Size | 6,656 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 5.77% | Year Built/Renovated | 1960/2024 |
| No. Units | 8 | ||
| Zoning | R3 | ||
| Price | $3,660,180 CAD |
| Price Per Unit | $457,522 CAD |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| No. Units | 8 |
| Property Type | Multifamily |
| Building Size | 6,656 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2024 |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $3,453 CAD | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Some public transit
40/100
Fairly bikeable
50/100
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1 Prince St - 1-7 Prince st & 48-54 Harbor st Salem MA
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.