MA > Salem
Salem, MA 01970,288-292 Washington & 5 Porter St Ct
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Salem, MA 01970,288-292 Washington & 5 Porter St Ct
Salem, MA 01970,288-292 Washington & 5 Porter St Ct
Salem, MA 01970,288-292 Washington & 5 Porter St Ct
Salem, MA 01970,288-292 Washington & 5 Porter St Ct
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Lisa Sevajian

Lisa Sevajian

+1(978) 457-3406
$ 4,500,000
Est. payment /mo
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288-292 Washington & 5 Porter St Ct Salem, MA 01970

27 Beds

19 Baths

24,126 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5+ Family - 5+ Units Up/Down

Listing Status Active

Purchase Type For Sale

Square Footage 24,126 sqft

Price per Sqft $186

MLS Listing ID 73452143

Bedrooms 27

Full Baths 19

Year Built 1915

Annual Tax Amount $38,616

Tax Year 2024

Lot Size 0.260 Acres

Acres 0.26

Property Sub-Type 5+ Family - 5+ Units Up/Down

Property Description

Salem, MA multifamily portfolio: 19 units spanning three buildings at 288–292 Washington Street and 5 Porter Street Court. The package features a balanced mix of twelve (12) one-bedroom units, six (6) two-bedroom units, and one (1) three-bedroom unit. Owner provides heat and hot water to tenants. The 5 Porter St Ct property includes approximately 6–8 off-street parking spaces for added tenant convenience. In-place rents are below current market levels, presenting a clear value-add opportunity to align rents with market and further stabilize operations over time. Set near Downtown Salem, the properties offer immediate access to a thriving year-round market—walkable to restaurants, retail, the waterfront, museums, and the MBTA for easy Boston access. Strong demand drivers and in-town convenience support stable occupancy and long-term rent growth.

Location

State MA

County Essex

Zoning R3

Direction Please use GPS

Interior

Interior Features Living Room, Dining Room, Kitchen

Heating Oil

Flooring Wood

Exterior

Community Features Public Transportation, Park, T-Station

Utilities Available for Gas Range, for Electric Range

Roof Type Rubber

Total Parking Spaces 8

Garage No

Building

Lot Description Other

Story 4

Foundation Stone

Sewer Public Sewer

Water Public

Others

Senior Community false

Listed by Little & Co., REALTORS®
Lisa Sevajian

Lisa Sevajian

Agent | License ID: 95000355

+1(978) 457-3406

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288-292 Washington & 5 Porter St Ct

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