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Closed

3 Harrison Ave, Salem MA 01970

$1,085,000

Estimated $2,577.99/month Calculator

Multi Family

Total Units: 4

Price Per Unit: $271,250

Total Rent: 90900/year

Estimated CAP Rate: 6.10%

12 Bedrooms

4 Full Baths

5,112 SqFt

Total Parking: 6

5,489 SqFt

Start 2023 off right with a new investment property! This property consists of four large 3 bedroom units with potential to convert to 4 bedrooms. Tenants pay their own utilities. Two driveways on either side of the building each fit 3 cars for a total of 6 off street parking spots. See attached for detailed income and expenses and a rent roll. Please allow at least 24 hours notice for tenants.

This home has been viewed 35 times

Last Checked: May 7th, 2024 at 3:06am (Source: MLS PIN #73066564)

Gross Income: $90,900

Gross Expenses: $24,764

Net Income Calc: $66,136

CAP Rate: 6.10%

Annual Expenses for 3 Harrison Ave, Salem MA 01970

Total Gross Expenses (Calculated)$24,764/year

APOD AvailableNo

Heating

Electricity$780

Water$8,400

Gas$8,400

Insurance$4,800

Sewer$8,400

Trash Removal$960

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$9,824

Annual Income & Unit Breakdown for 3 Harrison Ave, Salem MA 01970

Total Gross Income (Calculated)$90,900

Unit 1

Rental Income$1,800

LeaseN

Bedrooms3

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent Includes

Unit 2

Rental Income$1,800

LeaseN

Bedrooms3

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent Includes

Unit 3

Rental Income$1,800

LeaseN

Bedrooms3

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent Includes

Unit 4

Rental Income$2,175

LeaseN

Bedrooms3

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent Includes

General Information for 3 Harrison Ave, Salem MA 01970

Listing ID73066564

Property TypeMulti Family / 4 Family

Price$1,085,000 ($212.25/SqFt)

Style4 Family

CitySalem

CountyEssex

MLS Area

Neighborhood(s)Ipswich

Approximate Living Area Total5,112 SqFt

Approximate Lot Size (Acres)0.13 acres

Total Parking6

Garage Parking

Year Built1915

Year Built SourcePublic Records

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot FeaturesOther

Foundation Area

Foundation DescriptionGranite

Accessible Features

Outdoor Space

ZoningR3

Zoning Details

Water Views

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 3 Harrison Ave, Salem MA 01970

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceOwner

Total Gross Expenses By Broker$24,764

Total Gross Income By Broker$90,900

Total Net Income By Broker$66,136

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2

Facilitator Compensation2

Sub-Agent Compensation

Compensation Based OnGross/full Sale Price

Financial Information for 3 Harrison Ave, Salem MA 01970

Real Estate Taxes$9,824

Tax Year2022

Assessed Value$741,400

Financial Data SourceOwner

Total Gross Expenses By Broker$24,764

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$90,900

BostonRealEstate.com Gross Income

Total Net Income By Broker$66,136

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)6.10%

Location Information for 3 Harrison Ave, Salem MA 01970

Elementary School

Middle School

High School

Neighborhood(s)Ipswich

MLS Area

Area AmenitiesPublic Transportation

Contact Information for 3 Harrison Ave, Salem MA 01970

Agent

Name: Francesca Little

Office

Name: Little & Co., REALTORS®

Phone: 978-745-4447

Team Members

Payment Calculator

, Interest

Property Taxes 818.67

Principal & Interest 6685.42

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Little & Co., REALTORS®

Francesca Little

Agent Phone

Office Phone

(978) 745-4447

Text Agent Call Agent Call Office

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        )

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EXIT

Closed

3 Harrison Ave, Salem MA 01970

$1,085,000

Annual Expenses for 3 Harrison Ave, Salem MA 01970

Annual Income & Unit Breakdown for 3 Harrison Ave, Salem MA 01970

General Information for 3 Harrison Ave, Salem MA 01970

Disclosures for 3 Harrison Ave, Salem MA 01970

Financial Information for 3 Harrison Ave, Salem MA 01970

Location Information for 3 Harrison Ave, Salem MA 01970

Contact Information for 3 Harrison Ave, Salem MA 01970

Agent

Office

Team Members

Payment Calculator

Exclusive Listing Agent

Little & Co., REALTORS®

Francesca Little