Four-Unit Multifamily with Beach
New
For Sale
$795,000
108 Central Ave, Salisbury, MA 01952
Three main-building apartments and a detached cottage offer flexible residential rental configurations.
Property Size2,369 SF
Price / SF$335.58
Days on Market6
Property Features for 108 Central Ave
General Information
Standard status
Active
Size
2,369 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
4
Net Operating Income
$69,600
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,475
Amenities
private decks
beach access
Building Details
Building Size
2,369 SF
Year Built
1920
Buildings
2
Stories
4
Listing Agency:
Realty Negotiations, LLC
Listed By:
Olivia Grabka
(978) 397-8626
Source:
Laerrealty
Added: Oct 24
Changed: Oct 28
Last Checked: Oct 28 at 4:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Negotiations, LLC
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Investment Insights
Based on property information with market context.
At 108 Central Avenue, the 2,369-square-foot multifamily property includes three apartments in the main building and a separate one-bedroom cottage. The single-level apartments range from one to two bedrooms and have water views; the second- and third-floor units also feature private decks. The first- and second-floor apartments have updated kitchens and bathrooms, and the property has a new heating system. Built in 1920, the property is zoned 4.
A deeded right of way provides direct beach access, and two-car off-street parking is available. The property is near Salisbury Beach Center, the Carousel Pavilion, Blue Ocean Music Hall, and the oceanfront boardwalk. The detached cottage is vacant and available for rental.
A deeded right of way provides direct beach access, and two-car off-street parking is available. The property is near Salisbury Beach Center, the Carousel Pavilion, Blue Ocean Music Hall, and the oceanfront boardwalk. The detached cottage is vacant and available for rental.
Key Highlights
- Three apartments in the main building plus a detached one‑bedroom cottage
- 2,369 square feet; built in 1920; zoned 4
- Apartments offer one to two bedrooms, single‑level layouts, and water views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,024
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,480
$720.5K
Cap Rate 7%
$514,629
$514.6K
Cap Rate 9%
$400,267
$400.3K
Market Conditions
NOI Build-Up for 2,369 SF
Gross rent
$68.2K $28.80/SF
− Vacancy
−$2.7K −$1.15/SF
EGI
$65.5K $27.65/SF
− OpEx
−$29.5K −$12.44/SF
NOI
$36.0K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,480
Cap Rate 7%
$514,629
Cap Rate 9%
$400,267
Alternative Uses
Best Use
Apartment 5plus
$514.6K
$450.3K – $600.4K
NOI $36,024 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,171 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
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Business Placement
Demographics for 01952, MA
9,236
Population
4,981
Households
1.9
Avg Household Size
52
Median Age
44%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
600
Density / Sq Mi
$102,521
Median Household Income
$54,344
Median Earnings
$1,646
Median Rent
$450,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three main-building apartments and a detached cottage offer flexible residential rental configurations.
Where is this multifamily property located?
The property is located at 108 Central Ave Salisbury, MA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Three apartments in the main building plus a detached one‑bedroom cottage; 2,369 square feet; built in 1920; zoned 4; Apartments offer one to two bedrooms, single‑level layouts, and water views
