58 Bridge St, Salem, MA 01970

Investors: Rare opportunity to buy a Salem MA 6 Family located in the desirable Salem Neck neighborhood with easy access to public transportation, boating, public beaches, and downtown Salem and Beverly MA. Current Cap Rate is 7% at a $950,000 valuation. Heat, hot water and electric are separate for each of the units. Property is sold AS IS with tenants. All Tenants are TAW. Property is in need of updating. Projected Cap Rate after updating is 8.2% based on a valuation of $1,250,000. Reasonable projected rents were used. Note: There are 7 gas hot water boilers and 7 gas hot water tanks as the townhouse unit has two heating systems and 2 hot water tanks, one for each floor. This property is a Potential Condominium Conversion. Request our Investment Analysis of this Property. Offer Instructions: for Financed Offers, include a commercial loan pre-approval; for Cash Offers include proof of funds.