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    51 Ocean Ave Salem, MA 01970

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    For Sale
    $1,295,000

    Turn-key, renovated triplex near downtown Salem and the beach.

    Lot size:
    0.07 Acres

    Property Features for 51 Ocean Ave

    General Information

    Lot size
    0.07 Acres

    Building Details

    Year built
    1910

    Source: Sagan Harborside Sotheby's International Realty Agent Haley Paster Scimone

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Salem Triplex Near Downtown

    This fully renovated three-family property is located approximately 0.75 miles from downtown Salem and 0.5 miles from the beach, park, and hiking trails. The property has been updated with a new roof, siding, windows, and doors. High-efficiency gas heat and hot water systems are installed. Each unit includes gleaming hardwood floors, modern kitchens, custom tiled baths, and private laundry. Exterior features include a spacious wrap-around first-floor porch and a second-floor porch. Off-street parking is available for five cars. The property is suitable for owner-occupants, extended families, or investors seeking rental potential near Salem State University. All units are currently occupied with leases in place.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8920939
    Latitude
    42.508085

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    FAQs

    What type of property is this?
    Triplex - Turn-key, renovated triplex near downtown Salem and the beach.
    Where is this triplex located?
    The property is located at 51 Ocean Ave Salem, MA.
    What is the asking price?
    The asking price for this property is $1,295,000.
    What are key features of this property?
    This property features: - Fully renovated, turn-key 3-family property.; - Ideally located near downtown Salem, the beach, parks, and hiking trails.; - New roof, siding, windows, doors, high-efficiency gas heat & hot water.
    (781) 367-5523
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    51 Ocean Ave Salem, MA 01970
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    51 Ocean Ave Salem, MA 01970
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