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$ 675,000
Est. payment | /mo
5 Beds
3.5 Baths
2,432 SqFt
$ 675,000
Est. payment | /mo
5 Beds
3.5 Baths
2,432 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,432 sqft
Price per Sqft $277
MLS Listing ID 73598820
Bedrooms 5
Full Baths 3
Half Baths 1
Annual Tax Amount $9,242
Tax Year 2026
Lot Size 10,018 Sqft
Acres 0.23
Property Sub-Type Multi Family
Property Description
Calling all builders, contractors, and investors! Rare opportunity to own two detached single-family homes on one lot in the heart of downtown Salem! Located at 86-88 Summer Street, this unique property offers tremendous potential for renovation, investment, or future resale. Each home features its own private entrance and independent living space with no shared walls.86 Summer Street consists of approximately 830 square feet with 2 bedrooms and 1 full bathroom, while 88 Summer Street offers approximately 1,602 square feet with 3 bedrooms and 2.5 bathrooms. The property also features 6 off-street parking spaces, an exceptional amenity in downtown Salem.Both homes are in need of significant improvements and present an excellent opportunity for investors or contractors looking to unlock their full potential. Whether renovating for rental income, resale, or owner occupancy with supplemental rental income, the possibilities are compelling. Conveniently located just moments from Salem's vibrant downtown, restaurants, shops, waterfront, and commuter rail service to Boston.Property will not qualify for conventional financing. Cash buyers or buyers utilizing alternative financing are encouraged. Bring your vision and capitalize on this unique investment opportunity in one of the North Shore's most desirable locations!
Location
State MA
County Essex
Zoning B1
Direction Margin Street to Summer Street
Rooms
Basement Full, Unfinished
Exterior
Roof Type Shingle
Total Parking Spaces 6
Garage No
Building
Story 4
Foundation Stone
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by Herrick Lutts Realty Partners
Schools and Properties Nearby
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