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393 Essex St, Salem MA 01970

$1,875,000

Estimated $4,513/month Calculator

Multi Family

Total Units: 5

Price Per Unit: $375,000

Total Rent: 132600/year

Estimated CAP Rate:

6 Bedrooms

Baths

5345

Total Parking: 8

9,030 (0.21)

In Salem’s coveted McIntire Historic District, this grand mid-18th-century residence offers a rare marriage of historic character and turnkey investment potential. Sensitively converted into five residences and renovated to the studs in 2022, the property retains remarkable period details, including a graceful three-story Federal staircase, wainscoting and glorious paneled walls. Generating approximately $160K annually, it is equally compelling as a pure investment or for an owner who wants to live beautifully while four additional units offset carrying costs. The sprawling first-floor residence feels more like a private home, with two ensuite bedrooms, gracious living and dining rooms, original interior shutters, and a serious cook’s kitchen with an 8-burner commercial range and abundant wood and quartz counters. The dining room opens private yard with an intricate bluestone patio, generous lawn and private parking. Four additional one-bedroom apartments above offer strong rental appeal. Each unit has separately metered gas and electric, its own HVAC and hot water, while the building is fully sprinklered and fire monitored. All this less than 30 seconds from fabled Chestnut Street and moments from downtown Salem’s restaurants, shops and commuter rail.

This home has been viewed 25 times

Last Checked: October 31st, 2026 at 8:33am (Source: MLS PIN #73580463)

Gross Income: $132,600

Gross Expenses: $39,885

Net Income Calc: $92,715

Water Views

Annual Expenses for 393 Essex St, Salem MA 01970

Total Gross Expenses (Calculated)$39,885/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax17669

Annual Income & Unit Breakdown for 393 Essex St, Salem MA 01970

Total Gross Income (Calculated)$132,600

Unit 1

Rental Income$0

LeaseY

Bedrooms2

Bathrooms2 Full, 1 Half

Floor1

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseY

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 3

Rental Income$0

LeaseY

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 4

Rental Income$0

Lease

Bedrooms1

Bathrooms1 Full

Floor3

Levels in Unit1

Rent Includes

General Information for 393 Essex St, Salem MA 01970

Listing ID73580463

Property TypeMulti Family

Price1875000 ($350.8/SqFt)

Style5+ Family - 5+ Units Up/down

CitySalem

CountyEssex

Neighborhood(s)Ipswich

Approximate Living Area Total5345

Approximate Lot Size (Acres)0.21

Total Parking8

Garage Parking0

Year Built1775

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor Space

ZoningB1

Water ViewsNo

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 393 Essex St, Salem MA 01970

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsSwing Set

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 393 Essex St, Salem MA 01970

Real Estate Taxes17669

Tax Year2026

Assessed Value$1,639,100

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 393 Essex St, Salem MA 01970

Neighborhood(s)Ipswich

Area AmenitiesWalk/jog Trails

Contact Information for 393 Essex St, Salem MA 01970

Agent

Name: Michael Selbst

Office

Name: Gibson Sotheby's International Realty

Phone: 978-526-0243

Payment Calculator

, Interest

Property Taxes 1472.42

Principal & Interest 11553.15

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Gibson Sotheby's International Realty

Michael Selbst

Agent Phone

Office Phone

(978) 526-0243

Text Agent Call Agent Call Office

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    [unparsed] => 393 Essex St, Salem MA 01970
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EXIT

37 More Photos

Pending

393 Essex St, Salem MA 01970

$1,875,000

Annual Expenses for 393 Essex St, Salem MA 01970

Annual Income & Unit Breakdown for 393 Essex St, Salem MA 01970

General Information for 393 Essex St, Salem MA 01970

Disclosures for 393 Essex St, Salem MA 01970

Financial Information for 393 Essex St, Salem MA 01970

Location Information for 393 Essex St, Salem MA 01970

Contact Information for 393 Essex St, Salem MA 01970

Agent

Office

Payment Calculator

Exclusive Listing Agent

Gibson Sotheby's International Realty

Michael Selbst