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395 Essex St Salem MA 395 Essex St 6 Unit Apartment Building $2,514,903 CAD ($419,150 CAD/Unit) 6.22% Cap Rate Salem, MA 01970
Executive Summary
Located in Salem's prestigious McIntire District, this remarkable six-family Georgian Colonial, built circa 1735, presents a rare opportunity to own a significant piece of the city's architectural history. The Property consists six (6) residential units comprised of four (4) one-bedroom apartments, one (1) two-bedroom apartment, and one (1) studio.The Essex Street-facing apartments showcase an extraordinary collection of original period details, including King George flooring, five working fireplaces, and the timeless craftsmanship that defines early New England architecture. Each unit is separately metered for gas and electric, with tenants responsible for their own utilities. The gas heating systems have all been recently updated along with many of the kitchens and baths. Please see attached PDF for a rent roll and expenses.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,514,903 CAD | Building Class | C |
| Price Per Unit | $419,150 CAD | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 5,212 SF |
| Cap Rate | 6.22% | No. Stories | 3 |
| No. Units | 6 | Year Built | 1789 |
| Property Type | Multifamily | Parking Ratio | 2.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | B1 - Business District | ||
| Price | $2,514,903 CAD |
| Price Per Unit | $419,150 CAD |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,212 SF |
| No. Stories | 3 |
| Year Built | 1789 |
| Parking Ratio | 2.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | B1 - Business District |
1 1
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | SALE-000025-000000-000201 | Improvements Assessment | $2,404,555 CAD |
| Land Assessment | $269,261 CAD | Total Assessment | $2,673,816 CAD |
Property Taxes
Parcel Number
SALE-000025-000000-000201
Land Assessment
$269,261 CAD
Improvements Assessment
$2,404,555 CAD
Total Assessment
$2,673,816 CAD
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395 Essex St Salem MA | 395 Essex St
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