Three-Unit Multifamily Building with
New
For Sale
$925,000
19 Nichols, Salem, MA 01970
The three residences offer varied bedroom layouts, including a vacant top-floor unit and on-site coin-operated laundry.
Property Size4,420 SF
Price / SF$209.28
Days on Market5
Property Features for 19 Nichols
General Information
Standard status
Active
Size
4,420 SF
Total Parking Spaces
4
Property subtype
Multi-family
Units
Unit Mix
1 x 4BR, 1 x 3BR/2BA, 1 x 2BR
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Amenities
coin op laundry
Building Details
Year Built
1890
Listing Agency:
Little & Co.,REALTORS
Listed By:
Francesca Little · License #9564272
(978) 973-7277
Source:
Stevebremis
Added: Oct 25
Changed: Oct 28
Last Checked: Oct 28 at 8:09AM
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 Little & Co.,REALTORS
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,420-square-foot multifamily property, built in 1890, contains three residences. The first unit has four bedrooms arranged across two levels; another has three bedrooms and two full bathrooms. The third-floor residence has two bedrooms and is vacant. Coin-operated laundry serves the property, and four off-street parking spaces are provided.
Heat and hot water are included in the rents for the two occupied units. The property is located in Salem, Massachusetts.
Heat and hot water are included in the rents for the two occupied units. The property is located in Salem, Massachusetts.
Key Highlights
- Three residential units in a 4,420‑square‑foot property
- First unit has 4 bedrooms across two levels
- Second‑floor unit includes 3 bedrooms and 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,460
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,489,200
$1.5M
Cap Rate 7%
$1,063,714
$1.1M
Cap Rate 9%
$827,333
$827.3K
Market Conditions
NOI Build-Up for 4,420 SF
Gross rent
$111.4K $25.20/SF
− Vacancy
−$5.0K −$1.13/SF
EGI
$106.4K $24.07/SF
− OpEx
−$31.9K −$7.22/SF
NOI
$74.5K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,489,200
Cap Rate 7%
$1,063,714
Cap Rate 9%
$827,333
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$930.8K – $1.24M
NOI $74,460 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$960.2K
$840.2K – $1.12M
NOI $67,212 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,164 @ 7.0% cap · market cap 19.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 01970, MA
44,451
Population
20,920
Households
2.1
Avg Household Size
39
Median Age
50%
College-Educated
92%
High-School Grad
8.2 sq mi
ZIP Area
5,421
Density / Sq Mi
$85,189
Median Household Income
$52,024
Median Earnings
$1,800
Median Rent
$497,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The three residences offer varied bedroom layouts, including a vacant top-floor unit and on-site coin-operated laundry.
Where is this triplex located?
The property is located at 19 Nichols Salem, MA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Three residential units in a 4,420‑square‑foot property; First unit has 4 bedrooms across two levels; Second‑floor unit includes 3 bedrooms and 2 full bathrooms
