Multi-Family for Sale: 18 Peabody Street, Salem, MA 01970 SOLD

9 beds
3 full baths
3,234 sqft
$790,000
$790,000
18 Peabody Street, Salem, MA 01970 SOLD
9 beds
3 full baths
3,234 sqft
$790,000
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Selling Price: $790,000
Original List Price: $799,900
Sold at 98.8% of list price
Sold Date: 12/15/2023

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Type Multi-Family
Beds 9
Total Baths 3 full baths
Square Feet 3,234 sqft
Lot Size 0.04 acres
Year Built 1915
City Salem
County Essex
MLS 73175570
Status Closed
DOM 45 days
Attention Investors take a look at this rare opportunity located at 18 Peabody Street in downtown Salem. This oversized brick 3-story residential building boasts a total square footage of 4,312 with a rentable square footage of 3,234. The property consists of three (3) Three-bedroom stacked units. All units are separately metered for both gas heat, forced air and electrical. This opportunity includes $180,000 in State Historic Tax Credit awards as well as Federal Historic Tax Credits equal to 20% of the renovation costs. The tax credits directly correlate with final renovation costs and required compliance with Massachusetts Historic design standards. 18 Peabody Street is ideally located in downtown Salem and in close proximity to Lafayette Street and Derby Street which is the main corridor for downtown. The property will be delivered vacant making this an ideal situation for a developer/investor to commence work immediately.

Lot & Building Features

Appliances Utility Connections for Electric R
Construction Brick, Frame
Sewer Public Sewer
Tax Year 2023
Taxes Paid $7,177
Water Public
Foundation Block, Concrete Perimeter
Roof Rubber
Full Baths 3
Total Rooms 15
Basement Feature Partial
Garage Spaces 0

Price History of 18 Peabody Street, Salem, MA

Date Name Price Difference
10/31/2023 Listing Price $790,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Map of 18 Peabody Street, Salem, MA

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Photo of Rob Staub, CPA, MBA
Direct: 603-547-2036
Office
PO Box 101
Merrimack, NH 03054
603-787-3155
Listed by North Shore Realty Advisors, Dan Pouladian
Sold by Palmer Properties & Real Estate, Inc., Tanya Palmer
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Listing information courtesy of: North Shore Realty Advisors

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.