Well-Maintained 6-Unit
33 Harbor Street Salem, MA 01970
New
For Sale
$1,779,000
Six-unit multifamily property with a recently upgraded boiler and coin-operated common-area laundry.
Property Size6,345 SF
Price / SF$280.38
Days on Market7
Property Features for 33 Harbor Street
General Information
- Standard status
- Active
- Size
- 6,345 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1915
Listing Agency:
Boston Realty Advisors
Listed By:
Daniel Alper
(617) 262-6200
Source:
Cabotandcompany
Added: Jul 20
Changed: Jul 25
Last Checked: Jul 25 at 7:23AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This for-sale multifamily property features 6 units and has been very well maintained. The offering also provides room for additional value through cosmetic improvements. The boiler system was recently upgraded, supporting continued building utility reliability.
Common areas include two washers and two dryers, and both laundry machines are coin operated. The property is located in a quiet residential neighborhood with easy access to local public transportation, and it is a short walk to Salem Harbor.
Overall, the building presents a strong baseline for income potential with meaningful recent mechanical updates and shared laundry amenities.
Common areas include two washers and two dryers, and both laundry machines are coin operated. The property is located in a quiet residential neighborhood with easy access to local public transportation, and it is a short walk to Salem Harbor.
Overall, the building presents a strong baseline for income potential with meaningful recent mechanical updates and shared laundry amenities.
Key Highlights
- 6‑unit multifamily property built in 1915
- Boiler system was recently upgraded
- Common areas include coin‑operated laundry with 2 washers and 2 dryers
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $182.7k | $28.80 |
| − Vacancy | −$7.3k | −$1.15 |
| EGI | $175.4k | $27.65 |
| − OpEx | −$78.9k | −$12.44 |
| NOI | $96.5k | $15.21 |
6,345 SF · lease $28.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,485 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.38M
NOI $262,935 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six-unit multifamily property with a recently upgraded boiler and coin-operated common-area laundry.
Where is this apartment building located?
The property is located at 33 Harbor Street Salem, MA.
What is the asking price?
The asking price for this property is $1,779,000.
What are key features of this property?
This property features: 6‑unit multifamily property built in 1915; Boiler system was recently upgraded; Common areas include coin‑operated laundry with 2 washers and 2 dryers
