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    5 Herbert St Salem, MA 01970

    For Sale
    $850,000

    Three-unit apartment building in prime location near train and downtown.

    Lot size:
    0.04 Acres

    Property Features for 5 Herbert St

    General Information

    Lot size
    0.04 Acres

    Building Details

    Year built
    1864

    Source: J. Barrett & Company Agent Tina McManus

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

    Overview

    Well-Maintained Three-Unit Apartment Building

    This well-maintained three-unit apartment building presents a solid investment opportunity in a desirable location. The property features three one-bedroom, one-bath apartments, each including a living room and kitchen. A coin-operated washer and dryer are located in the basement. Individual forced hot water gas heating units were installed approximately 4 years ago. Tandem parking is available for two cars, with additional on-street permit parking. Newer carpets have been installed, and some windows and skylights on the third floor have been replaced. The property is located moments from the train, the wharf, Salem Common, the museum, and downtown shops and restaurants, making it highly desirable for renters. The closing date must be after January 1, 2026.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon 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
    -70.888989
    Latitude
    42.5222558

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    FAQs

    What type of property is this?
    Triplex - Three-unit apartment building in prime location near train and downtown.
    Where is this triplex located?
    The property is located at 5 Herbert St Salem, MA.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - Prime location: Moments from train, wharf, Salem Common, museum, downtown shops and restaurants.; - Well-maintained 3-unit apartment building.; - Individual FHW gas heating units (installed approximately 4 years ago).
    (978) 473-2154
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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
    5 Herbert St Salem, MA 01970
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