Location! Location! This well-maintained 3-family home offers a fantastic investment opportunity in a highly desirable location. Situated close to shopping and transportation, and a 1.5 mile from Malden Center and the MBTA station. The property features: UNIT1- 3 rooms, 1 bedroom, 1 bathroom; UNIT2 – 4 rooms, 2 bedrooms, 1 bathroom; UNIT3 – 7 rooms, 4 bedrooms, 1 bathroom. Each unit boasts hardwood floors and benefits from an efficient tankless water heater and gas heating system. The property also includes a newer roof, vinyl siding, ample parking spaces, and a 2-car garage. This combination of features makes it an excellent investment opportunity. It’s also a great opportunity for a first-time home buyer who wants to live in a location close to everything, within minutes of Boston. Rents are below market value; all tenants are TAW.

Property Details

Price:
$1,139,900
MLS #:
73277232
Status:
Active
Beds:
7
Baths:
3
Address:
563-565 Salem St
Type:
Multi Family
Subtype:
3 Family – 3 Units Up/Down
City:
Malden
Listed Date:
Aug 13, 2024
State:
MA
Finished Sq Ft:
2,312
Total Sq Ft:
2,312
ZIP:
02148
Lot Size:
5,484 sqft / 0.13 acres (approx)
Year Built:
1870
Units:
3

Schools

Interior

Bathrooms
3 Full Bathrooms
Flooring
Hardwood

Exterior

Community Features
Public Transportation, Shopping, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Public School, T- Station
Construction Materials
Frame
Parking Features
Paved Drive, Off Street
Parking Spots
7
Roof
Shingle

Financial

Net Operating Income
$49,752
Tax Year
2024
Taxes
$8,530

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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.,…

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563-565 Salem St
Malden, MA