Unit Information
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.
- Additional Details
- Status: ACT
- Type: Multi-Family, 5+ Family - 5+ Units Up/Down
- Zip Code: 01970
- Levels: 4
- Parking
- Garage Capacity: 8
- Parking: Off Street
- Parking Spaces: 8
- Rooms and Dimensions
- Total Units: 19
- Total Floors: 4
- Total Rooms: 65
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$4,500,000
- Listing ID: 73452143
- Bedrooms: 27
- Full Baths: 19
- Living Area: 24,126 sqft Convert
- Lot Size: 11,326 sqft Convert
- Acres: 0.26
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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 | |