There are multiple listings for this address:
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.

Property Details

Price:
$1,350,000
MLS #:
73373885
Status:
Active Under Contract
Beds:
6
Baths:
4
Address:
385-387 Salem St
Type:
Multi Family
Subtype:
5+ Family – 5+ Units Up/Down
Neighborhood:
Faulkner
City:
Malden
Listed Date:
May 13, 2025
State:
MA
Finished Sq Ft:
6,055
Total Sq Ft:
6,055
ZIP:
02148
Lot Size:
2,348 sqft / 0.05 acres (approx)
Year Built:
1900
Units:
5

Schools

Elementary School:
Salemwood
Middle School:
Salemwood
High School:
Malden High

Interior

Appliances
None, Range, Refrigerator
Bathrooms
4 Full Bathrooms
Cooling
None
Flooring
Tile, Concrete, Hardwood, Carpet, Wood
Heating
Electric

Exterior

Community Features
Public Transportation, Shopping, Highway Access, Public School, T- Station, Sidewalks
Construction Materials
Stone
Exterior Features
Balcony
Roof
Tar/ Gravel

Financial

Net Operating Income
$18,918
Tax Year
2024
Taxes
$14,855

Map

Contact Us

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CRP: Certified Relocation Professional
CRS: Certified Residential Specialist
GRI: Graduate of Realtors Institute
CBR: Certified Buyers Representative
BSBA: Bachelor of Science in Business Administration. Babson College 1979
MBA: Master of Business Administration. Babson College 2002

James M. Joly is President and Principal-Owner of Boardwalk Real Estate Corp.,…

More About James
385-387 Salem St
Malden, MA
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.

Property Details

Price:
$1,350,000
MLS #:
73374216
Status:
Active Under Contract
Beds:
0
Baths:
4
Address:
385-387 Salem St
Type:
Commercial
Subtype:
5+ Family – 5+ Units Up/Down
Neighborhood:
Faulkner
City:
Malden
Listed Date:
May 14, 2025
State:
MA
Finished Sq Ft:
6,055
Total Sq Ft:
6,055
ZIP:
02148
Lot Size:
2,787 sqft / 0.06 acres (approx)
Year Built:
1900

Schools

Elementary School:
Salemwood
Middle School:
Salemwood
High School:
Malden High

Interior

Appliances
None, Range, Refrigerator
Bathrooms
4 Full Bathrooms
Cooling
None
Flooring
Tile, Concrete, Hardwood, Carpet, Wood
Heating
Electric

Exterior

Community Features
Public Transportation, Shopping, Highway Access, Public School, T- Station, Sidewalks
Construction Materials
Stone
Exterior Features
Balcony
Roof
Tar/ Gravel

Financial

Net Operating Income
$18,918
Tax Year
2024
Taxes
$14,855

Map

Contact Us

Send
  

Mortgage Calculator

 

Similar Listings Nearby

CRP: Certified Relocation Professional
CRS: Certified Residential Specialist
GRI: Graduate of Realtors Institute
CBR: Certified Buyers Representative
BSBA: Bachelor of Science in Business Administration. Babson College 1979
MBA: Master of Business Administration. Babson College 2002

James M. Joly is President and Principal-Owner of Boardwalk Real Estate Corp.,…

More About James