An exciting investment opportunity with you. Located just minutes from I-93 Exit 2 in a low-density single-family neighborhood, this well-maintained 9-unit apartment building sits on a spacious 1.8-acre lot and is connected to city sewer. The property boasts a large and inviting backyard, ample paved parking, and extraland, all within a short walk of Canobie Lake, which offers seasonal views from the third floor. The building is currently occupied and stabilized, presenting an immediateincome stream. Six of the apartments have been recently and completely renovated, featuring modern kitchens with granite countertops and stainless steel appliances,updated bathrooms, refinished or new hardwood flooring, energy-efficient LED lighting, and new decks, sliding doors, and windows. Each unit is separately metered forheat and electricity and the property currently yields a strong 8% capitalization rate. The property also features a large U-shaped driveway providing ease of access.
For sale
Price cut: $1K (8/5)
$2,378,000
3 S Shore Rd, Salem, NH 03079
14beds
7,674sqft
Est.:
5-9 Family
Built in 1880
-- sqft lot
$2,316,600 Zestimate®
$310/sqft
$-- HOA
What's special
- 60 days
- on Zillow |
- 882 |
- 34 |
Zillow last checked: 7 hours ago
Listing updated: August 09, 2025 at 12:09am
Listed by:
Steven Cotran,
RE/MAX Area Real Estate Network,
Steven Cotran
Source: MLS PIN,MLS#: 73389898
Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 14
- Bathrooms: 9
- Full bathrooms: 9
Features
- Basement: Full
- Has fireplace: No
Interior area
- Total structure area: 7,674
- Total interior livable area: 7,674 sqft
- Finished area above ground: 7,674
Property
Parking
- Total spaces: 20
- Parking features: Paved Drive, Off Street
- Has uncovered spaces: Yes
Features
- Patio & porch: Porch
- Waterfront features: Lake/Pond, 1/2 to 1 Mile To Beach
Lot
- Size: 1.8 Acres
- Features: Gentle Sloping
Details
- Parcel number: 590482
- Zoning: MDL-01
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5-9 Family
Materials
- Frame
- Foundation: Block, Granite
- Roof: Other
Condition
- Year built: 1880
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Private
Community & HOA
Community
- Features: Other
Location
- Region: Salem
Financial & listing details
- Price per square foot: $310/sqft
- Tax assessed value: $785,400
- Annual tax amount: $13,222
- Date on market: 6/12/2025
- Total actual rent: 20010
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