Investors take notice of a rare offering in downtown Salem. 5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story 6-unit buildings with a total square footage of 19,720± with a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages for additional income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and the opportunity to increase rents to market with minimal capital. The offering is near public transportation, restaurants, and many local amenities within walking distance of the subject properties.
Sold for $3,830,000 on 05/06/25
$3,830,000
5 Ropes St #&-8-10, Salem, MA 01970
34beds
13,472sqft
5+ Family - 5+ Units Up/Down
Built in 1915
-- sqft lot
$-- Zestimate®
$284/sqft
$-- Estimated rent
Home value
Not available
Estimated sales range
Not available
Not available
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: May 06, 2025 at 02:19pm
Listed by:
Michael McCarthy 781-883-8518,
North Shore Realty Advisors 617-548-7737,
Dan Pouladian 617-548-7737
Bought with:
Dan Pouladian
North Shore Realty Advisors
Source: MLS PIN,MLS#: 73339638
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 34
- Bathrooms: 12
- Full bathrooms: 12
Features
- Flooring: Wood, Tile, Vinyl
- Doors: Insulated Doors
- Windows: Insulated Windows
- Basement: Full
- Has fireplace: No
Interior area
- Total structure area: 13,472
- Total interior livable area: 13,472 sqft
- Finished area above ground: 13,472
Property
Parking
- Total spaces: 27
- Parking features: Paved Drive, Shared Driveway, Off Street
- Garage spaces: 6
- Uncovered spaces: 21
Features
- Patio & porch: Deck - Wood, Deck - Vinyl, Deck - Composite
Lot
- Size: 0.40 Acres
- Features: Level
Details
- Foundation area: 99999
- Zoning: R3
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5+ Family - 5+ Units Up/Down
Materials
- Frame, Brick, Stone
- Foundation: Stone
- Roof: Shingle,Rubber
Condition
- Year built: 1915
Utilities & green energy
- Electric: 200+ Amp Service
- Sewer: Public Sewer
- Water: Public
- Utilities for property: for Gas Range, for Electric Range, Varies per Unit
Green energy
- Energy efficient items: Varies per Unit
Community & neighborhood
Community
- Community features: Public Transportation, Shopping, Park, Walk/Jog Trails
Location
- Region: Salem
HOA & financial
Other financial information
- Total actual rent: 29376
Price history
| Date | Event | Price |
|---|---|---|
| 5/6/2025 | Sold | $3,830,000+3.5%$284/sqft |
Source: MLS PIN #73339638 | ||
| 2/28/2025 | Listed for sale | $3,700,000$275/sqft |
Source: MLS PIN #73339638 | ||
Public tax history
Tax history is unavailable.
Neighborhood: 01970
Nearby schools
GreatSchools rating
- 5/10Saltonstall SchoolGrades: K-8Distance: 0.2 mi
- NASalem Prep High SchoolGrades: 9-12Distance: 0.4 mi
- 4/10Collins Middle SchoolGrades: 6-8Distance: 0.6 mi