Unit Information
Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.
- Additional Details
- Status: ACT
- Type: Multi-Family, 5+ Family - 5+ Units Up/Down
- Area: Faulkner
- Zip Code: 02148
- Levels: 11
- Rooms and Dimensions
- Total Units: 5
- Total Floors: 11
- Total Rooms: 20
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$1,350,000
- Listing ID: 73373885
- Bedrooms: 6
- Full Baths: 4
- Living Area: 6,055 sqft Convert
- Lot Size: 2,348 sqft Convert
- Acres: 0.05
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Luxury Residential Group
(617) 233-5800
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LRG Luxury Residential Group | 355 Boylston St, Boston MA 02116 | (617) 233-5800 | |