Four-Unit Multifamily
For Sale
$1,249,900
Pending
8 Saunders St, Salem, MA 01970
Well-maintained four-unit multifamily property with three 2-bedroom units and one 3-bedroom unit.
Property Size4,166 SF
Days on Market98
Property Features for 8 Saunders St
General Information
Standard status
Pending
Size
4,166 SF
Property subtype
4 Family
Additional Details
Multifamily Units
4
Building Details
Building Size
4,166 SF
Year Built
1800
Tenancy
Multi
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Jul 20
Changed: Oct 25
Last Checked: Oct 24 at 7:01PM
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 IVerty Realty, LLC
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Investment Insights
Based on property information with market context.
This well-maintained four-unit multifamily building features three spacious 2-bedroom units and one 3-bedroom unit, offering a mixed rental configuration within a single property. The overall setup is designed to support steady occupancy across multiple unit types.
The property is located near downtown Salem’s shops, restaurants, commuter rail, and waterfront attractions, with walkability and some transit access noted in the provided information.
For buyers seeking a small multifamily asset with multiple bedroom configurations under one roof, this four-unit offering at 8 Saunders St presents a straightforward structure and unit mix based on the details provided.
The property is located near downtown Salem’s shops, restaurants, commuter rail, and waterfront attractions, with walkability and some transit access noted in the provided information.
For buyers seeking a small multifamily asset with multiple bedroom configurations under one roof, this four-unit offering at 8 Saunders St presents a straightforward structure and unit mix based on the details provided.
Key Highlights
- Well‑maintained four‑unit multifamily property built in 1800
- Unit mix: three 2‑bedroom units plus one 3‑bedroom unit
- Bikeable area with a bikeScore of 64
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,181
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,403,620
$1.4M
Cap Rate 7%
$1,002,586
$1.0M
Cap Rate 9%
$779,789
$779.8K
Market Conditions
NOI Build-Up for 4,166 SF
Gross rent
$105.0K $25.20/SF
− Vacancy
−$4.7K −$1.13/SF
EGI
$100.3K $24.07/SF
− OpEx
−$30.1K −$7.22/SF
NOI
$70.2K $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%
$1,403,620
Cap Rate 7%
$1,002,586
Cap Rate 9%
$779,789
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$877.3K – $1.17M
NOI $70,181 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$905.0K
$791.9K – $1.06M
NOI $63,350 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,638 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,511
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit multifamily property with three 2-bedroom units and one 3-bedroom unit.
Where is this quadplex located?
The property is located at 8 Saunders St Salem, MA.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Well‑maintained four‑unit multifamily property built in 1800; Unit mix: three 2‑bedroom units plus one 3‑bedroom unit; Bikeable area with a bikeScore of 64
