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Active

233 Lafayette, Salem MA 01970

$7,699,000

Estimated $16,761/month Calculator

Multi Family

Total Units: 26

Price Per Unit: $296,115.38

Total Rent: 61140/year

Estimated CAP Rate:

32 Bedrooms

Baths

17744

Total Parking: 0

10,359 (0.24)

Rare opportunity to acquire a fully renovated 26-unit brick asset in one of Salem’s most active rental markets. The Property consists of twelve (12) one-bedroom units, six (6) two-bedroom units and eight (8) studios. 233 Lafayette Street offers investors immediate scale, strong in-place income, and a true turnkey profile with major capital improvements already executed. The property has undergone an extensive renovation in 2020, including a new roof, fully upgraded electrical, new boilers and hot water storage and a new sprinkler system. Unit interiors have been upgraded across the board with updated kitchens and baths with 15 of the units featuring in-unit laundry. See attached OM for detailed financials.

This home has been viewed 9 times

Last Checked: September 19th, 2026 at 6:23am (Source: MLS PIN #73576567)

Gross Income: $61,140

Gross Expenses: $51,331

Net Income Calc: $9,809

Annual Expenses for 233 Lafayette, Salem MA 01970

Total Gross Expenses (Calculated)$51,331/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax51331

Annual Income & Unit Breakdown for 233 Lafayette, Salem MA 01970

Total Gross Income (Calculated)$61,140

Unit 1

Rental Income$0

LeaseY

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseY

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

Rent Includes

Unit 3

Rental Income$0

Lease

Bathrooms

Rent Includes

Unit 4

Rental Income$0

Lease

Bathrooms

Rent Includes

General Information for 233 Lafayette, Salem MA 01970

Listing ID73576567

Property TypeMulti Family

Price7699000 ($433.89/SqFt)

Style5+ Family - 5+ Units Up/down

CitySalem

CountyEssex

Neighborhood(s)Ipswich

Approximate Living Area Total17744

Approximate Lot Size (Acres)0.24

Total Parking0

Garage Parking0

Year Built1915

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

Basement

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor Space

ZoningB1

Water Views

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 233 Lafayette, Salem MA 01970

Lead PaintNone

UFFI

Living Area Includes BasementYes

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsPersonal Belongings.

Financial Data SourceEstimated

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Compensation Based On

Financial Information for 233 Lafayette, Salem MA 01970

Real Estate Taxes51331

Tax Year2026

Assessed Value$4,256,500

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 233 Lafayette, Salem MA 01970

Neighborhood(s)Ipswich

Area AmenitiesWalk/jog Trails

Contact Information for 233 Lafayette, Salem MA 01970

Agent

Name: Francesca Little

Office

Name: Little & Co., REALTORS®

Phone: 978-745-4447

Team Members

Payment Calculator

, Interest

Property Taxes 4277.58

Principal & Interest 47438.79

HOA Dues

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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    [description] => Rare opportunity to acquire a fully renovated 26-unit brick asset in one of Salem’s most active rental markets. The Property consists of twelve (12) one-bedroom units, six (6) two-bedroom units and eight (8) studios. 233 Lafayette Street offers investors immediate scale, strong in-place income, and a true turnkey profile with major capital improvements already executed. The property has undergone an extensive renovation in 2020, including a new roof, fully upgraded electrical, new boilers and hot water storage and a new sprinkler system. Unit interiors have been upgraded across the board with updated kitchens and baths with 15 of the units featuring in-unit laundry. See attached OM for detailed financials.
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    [unparsed] => 233 Lafayette, Salem MA 01970
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EXIT

19 More Photos

Active

233 Lafayette, Salem MA 01970

$7,699,000

Annual Expenses for 233 Lafayette, Salem MA 01970

Annual Income & Unit Breakdown for 233 Lafayette, Salem MA 01970

General Information for 233 Lafayette, Salem MA 01970

Disclosures for 233 Lafayette, Salem MA 01970

Financial Information for 233 Lafayette, Salem MA 01970

Location Information for 233 Lafayette, Salem MA 01970

Contact Information for 233 Lafayette, Salem MA 01970

Agent

Office

Team Members

Payment Calculator

Exclusive Listing Agent

Little & Co., REALTORS®

Francesca Little