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Value add multifamily investment · Salem, MA

2–4 Saunders Street

Salem, Massachusetts

6Residential units
8,792± SFTotal building area
5,795± SFRentable living area
$1,625,000Asking price
Download offering memorandum (PDF)Schedule a tour

Investment overview

Historic character. Meaningful upside.

North Shore Realty Advisors, Inc., as exclusive agent, presents 2–4 Saunders Street, a six unit multifamily investment in Salem’s historic Bridge Street Neck neighborhood. Offered for the first time in more than 30 years, this distinctive Italianate style property combines spacious residences, enduring rental appeal, and value add potential.

Investment highlights

  • Long held asset: Under the same ownership for more than three decades.
  • Income growth potential: Opportunity to bring below market rents toward market levels over time.
  • Distinctive residences: Generous layouts, high ceilings, hardwood floors, and a two bedroom, 1.5 bath townhome.
  • Connected Salem location: Near Downtown Salem, Salem Common, the waterfront, and commuter rail.

Property details

Room to create value.

6 residencesMultifamily investment
8,792± SFTotal building area
5,795± SFRentable living area
5,397± SFLot area

Spacious apartments offer abundant natural light and classic architectural details. Coin operated laundry generates supplemental income, with potential for additional revenue from basement storage.

See the offering memorandum for individual unit layouts, utility responsibilities, and capital improvements.

Annual financials

Investment snapshot.

$162,000Pro forma gross rental income
$158,700Pro forma effective gross income
$53,499Pro forma total expenses
$105,201Pro forma net operating income

Figures from the offering memorandum. Pro forma includes laundry income, a 3% rental vacancy allowance, and listed management and maintenance assumptions. Projected rents and income are estimates, not guarantees. Review the full memorandum and verify all assumptions independently.

Salem, Massachusetts

A neighborhood with lasting appeal.

Bridge Street Neck offers historic streetscapes and convenient access to Downtown Salem, neighborhood restaurants, Salem Common, and the waterfront. Nearby commuter rail and local bus service connect residents with Boston and surrounding North Shore communities.

View location

Exclusively offered by NSRA

See the opportunity in person.

Contact Dan or Sara for tour availability, financial details, and next steps.

Request a tour

Disclosure: Information was obtained from third party sources believed to be reliable but has not been independently verified. North Shore Realty Advisors, Inc. makes no representation or warranty, express or implied, as to accuracy or completeness. Projections are estimates and not guarantees of future performance. Buyers shall conduct their own independent due diligence and verify all material facts. Subject to errors, omissions, changes, prior sale, and withdrawal without notice. Photos may be digitally enhanced or staged.