Brought to you by: Amanda Brawley - REMAX 360
12 Atlantic Avenue
Marblehead, MA 01945

(617) 966-6652   (781) 639-0301
Website: http://www.amandabrawley.com
Email: amandabrawley@remax.net
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Jun-20-2021 09:46:18 pm Contact Agent Request Showing
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8 - 8 1/2 Herbert Street
Salem, MA. 01970


MLS # 72840948 - Contingent
Multi-Family 5-9 Family    

List Price $1,650,000 Days on Market  
List Date   # Units 9
Sale Price   # Floors  
Sold Date   Rooms 13
Assessed Value $917,000 Bedrooms 10
Gross Living Area 5,265SF Full Baths 9
Lot Size 2,657SF Half Baths 0
Taxes $12,767.00 Fireplaces  
Tax Year 2021 Basement Yes
Zoning R2 Waterfront No
Est. Street Front   Beach Nearby Yes
Year Built 1900 Parking Spaces 0
    Garage Spaces 0

Remarks:

Rare, 9 unit investment property for sale at a very attractive 7.1% Cap Rate. Located in the historic Derby Street area, minutes from Salem Common, Hawthorne Hotel, numerous shops and restaurants, Peabody Essex Museum, Salem Harbor, Salem Train Station and nearby beaches at Salem Willows Park, Collins Cove, Winter Island and Dead Horse Beach. The 9 units (8 one-bed and one lead compliant two-bed unit) are distributed across a 2 family and a 7 unit building. All leases are TAWs and many tenants have been there for several years. Pro-forma analysis and rent roll are available to qualified buyers. All offers must include pre-approval from lender and proof of funds. First showings to qualified buyers will be by appointment between 1 pm - 3 pm on Saturday June 5 and Sunday June 6. Face masks required.

Features
Amenities   Public
   Transportation,
   Shopping, Park, Medical
   Facility, Laundromat,
   Highway Access, House of
   Worship, Marina,
   Private School, Public
   School, T-Station
Basement   Full, Interior
   Access
Beach   1 to 2 Mile mi.,
   Ocean (Public)
Construction   Frame,
   Brick
Electricity   Circuit
   Breakers, Common,
   Individually Metered
Energy   Insulated Windows
Exterior   Shingles,
   Brick
Exterior Feat.   Patio,
   Screens, Fenced Yard,
   Garden Area
Flooring   Wood, Tile
Foundation   Fieldstone,
   Granite
Hot Water   Natural Gas,
   Tank
Lead Paint   Certified
   Treated, Unknown
Lot   Fenced/Enclosed,
   Level
Parking   On Street Permit
Road   Public, Paved,
   Publicly Maint.,
   Sidewalk
Roof   Asphalt/Fiberglass
   Shingles
Sewer / Water   City/Town
   Sewer, City/Town Water
Utility Connections   for
   Gas Range, for Electric
   Dryer, Washer Hookup
Warranty   No
Units
Unit 1 Bedrooms: 1; Cooling: None; Floor: 1; Full Baths: 1; Heating: Central Heat, Steam, Gas; Lease: No;
     Levels: 1; Rent: 1260; Rent Includes: Heat, Water, Hot Water; Rooms: 2
Unit 2 Bedrooms: 1; Cooling: None; Floor: 1; Full Baths: 1; Heating: Central Heat, Steam, Gas; Lease: No;
     Levels: 1; Rent: 1200; Rent Includes: Heat, Water, Hot Water; Rooms: 2
Unit 3 Bedrooms: 1; Cooling: None; Floor: 2; Full Baths: 1; Heating: Central Heat, Steam, Gas; Lease: No;
     Levels: 1; Rent: 1700; Rent Includes: Heat, Water, Hot Water; Rooms: 3; Rooms Desc.: Kitchen,
     Living RM/Dining RM Combo
Unit 4 Bedrooms: 1; Cooling: None; Floor: 3; Full Baths: 1; Heating: Steam, Gas; Lease: No; Levels: 1;
     Rent: 1700; Rent Includes: Heat, Water, Hot Water; Rooms: 3; Rooms Desc.: Kitchen, Living
     RM/Dining RM Combo
Financial Info
Expenses Source   Owner
   Provided, Pro. Forma
   Available
Expenses Year End   12/20
Gross Expenses   $33,277
Gross Oper. Income  
   $150,720
Net Oper. Income  
   $117,443
Additional Information
APOD Available?   Yes
Adult Community   No
Anticipated Sale Date  
   08/05/2021
Deed   Book: 8976, Page:
   367
Disclosures   8 1/2
   Herbert St Unit 2
   certified lead compliant.
Foreclosure   No
GLA Source   Public Record
Seller Disclosure Doc   No
Short Sale   No
Year Built Desc.  
   Approximate, Renovated
   Since
Year Built Source   Public
   Record

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Property Last Updated by Listing Office: 6/11/21 1:08pm

Courtesy: MLSPIN

Contact agent for more information about this listing
Listing Office: RE/MAX 360 Listing Agent: Kathleen Sullivan


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