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11 Summer St, Salem MA 01970

$2,500,000

Estimated $4,807/month Calculator

Multi Family

Total Units: 6

Price Per Unit: $416,666.67

Total Rent: 62400/year

Estimated CAP Rate:

10 Bedrooms

Baths

6744

Total Parking: 38 (10 Garage)

13,000 (0.30)

Six family home with close to 7,000 sq. ft. of living space, on the biggest lot in downtown Salem, next to the Salem Inn. This property is zoned mixed use, so could have commercial and residential space. Great potential for further development. The house needs to be renovated. 10 garages and a large workshop above which could be converted into more units.

This home has been viewed 142 times

Last Checked: September 5th, 2025 at 1:48am (Source: MLS PIN #73044002)

Gross Income: $62,400

Gross Expenses: $9,045

Net Income Calc: $53,355

Annual Expenses for 11 Summer St, Salem MA 01970

Total Gross Expenses (Calculated)$9,045/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax9045

Annual Income & Unit Breakdown for 11 Summer St, Salem MA 01970

Total Gross Income (Calculated)$62,400

Unit 1

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 2

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 3

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

Rent IncludesHeat

Unit 4

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

Rent IncludesHeat

General Information for 11 Summer St, Salem MA 01970

Listing ID73044002

Property TypeMulti Family / 5+ Family

Price2500000 ($370.7/SqFt)

Style5-9 Family

CitySalem

CountyEssex

Neighborhood(s)Ipswich

Approximate Living Area Total6744

Approximate Lot Size (Acres)0.3

Total Parking38 (10 Garage)

Garage Parking10

Year Built1870

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor SpaceCovered

ZoningB5

Water Views

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 11 Summer St, Salem MA 01970

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsBar Top In Shed Is Custom And Is Not Included

Financial Data SourceEstimated

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation1.5

Facilitator Compensation0

Compensation Based OnNet Sale Price

Financial Information for 11 Summer St, Salem MA 01970

Real Estate Taxes9045

Tax Year2018

Assessed Value$588,100

Financial Data SourceEstimated

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 11 Summer St, Salem MA 01970

Middle SchoolSalem

High SchoolSalem High

Neighborhood(s)Ipswich

Area AmenitiesWalk/jog Trails

Contact Information for 11 Summer St, Salem MA 01970

Agent

Name: Heather Klosowski

Office

Name: Heather Klosowski Real Estate

Phone: 978-914-2300

Payment Calculator

, Interest

Property Taxes 753.75

Principal & Interest 15404.2

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Heather Klosowski Real Estate

Heather Klosowski

Agent Phone

Office Phone

(978) 914-2300

Text Agent Call Agent Call Office

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    [description] => Six family home with close to 7,000 sq. ft. of living space, on the biggest lot in downtown Salem, next to the Salem Inn. This property is zoned mixed use, so could have commercial and residential space. Great potential for further development. The house needs to be renovated. 10 garages and a large workshop above which could be converted into more units.
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    [unparsed] => 11 Summer St, Salem MA 01970
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EXIT

34 More Photos

Pending

11 Summer St, Salem MA 01970

$2,500,000

Annual Expenses for 11 Summer St, Salem MA 01970

Annual Income & Unit Breakdown for 11 Summer St, Salem MA 01970

General Information for 11 Summer St, Salem MA 01970

Disclosures for 11 Summer St, Salem MA 01970

Financial Information for 11 Summer St, Salem MA 01970

Location Information for 11 Summer St, Salem MA 01970

Contact Information for 11 Summer St, Salem MA 01970

Agent

Office

Payment Calculator

Exclusive Listing Agent

Heather Klosowski Real Estate

Heather Klosowski