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288-292 Porter Street Ct Salem, MA 01970

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For Sale
$4,500,000

19 units in three buildings near Downtown Salem.

Lot size:
0.26 Acres

Property Features for 288-292 Porter Street Ct

General Information

Lot size
0.26 Acres

Building Details

Year built
1915

Source: Little & Co., REALTORS Agent Francesca Little

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


Overview

Salem Multifamily Portfolio: 19 Units

This Salem, MA multifamily portfolio includes 19 units across three buildings located at 288-292 Washington Street and 5 Porter Street Court. The unit mix consists of twelve one-bedroom units, six two-bedroom units, and one three-bedroom unit. The owner provides heat and hot water to the tenants. The property at 5 Porter St Ct features approximately 68 off-street parking spaces. Existing rents are below current market rates, offering a value-add opportunity to adjust rents to market levels and further stabilize operations. Situated near Downtown Salem, the properties provide convenient access to restaurants, retail, the waterfront, museums, and the MBTA for access to Boston. The location benefits from strong demand drivers and in-town convenience, supporting stable occupancy and long-term rent growth.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Salem
County
Essex
State
Massachusetts
Longitude
-70.8940198
Latitude
42.5165802

FAQs

What type of property is this?
Apartment building - 19 units in three buildings near Downtown Salem.
Where is this apartment building located?
The property is located at 288-292 Porter Street Ct Salem, MA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: - Multifamily portfolio with 19 units in a desirable Salem, MA location.; - Attractive mix of unit types: twelve (12) one-bedroom, six (6) two-bedroom, and one (1) three-bedroom units.; - Significant value-add opportunity through rent increases to market levels.
More about this property
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