Prominent Victorian home with total of 5 units and recent approval for 6th, along with 6 large concrete garages located in the rear of property on Charles Street. This home has been in the same family for over 60 years, has been well maintained, with long term tenants and empty owners unit with plans to split into 2 units. Great detail inside and out, this property boast high ceilings, hardwood floors, detailed fireplace rooms as well as the added income from the 6, 12 x 35′ garages underneath the yard in the rear of the property.

Property Details

Price:
$1,959,000
MLS #:
73338064
Status:
Active
Beds:
9
Baths:
6
Address:
16-18 Loring Ave
Type:
Multi Family
Subtype:
5+ Family – 5+ Units Side by Side
Neighborhood:
South Salem
City:
Salem
Listed Date:
Feb 25, 2025
State:
MA
Finished Sq Ft:
5,998
Total Sq Ft:
5,998
ZIP:
01970
Lot Size:
17,986 sqft / 0.41 acres (approx)
Year Built:
1895
Units:
5

Schools

Interior

Bathrooms
5 Full Bathrooms, 2 Half Bathrooms
Fireplaces Total
4
Flooring
Wood, Tile, Vinyl, Carpet

Exterior

Community Features
Public Transportation, T- Station
Construction Materials
Frame
Parking Features
Off Street
Parking Spots
7
Roof
Shingle

Financial

Net Operating Income
$68,756
Tax Year
2025
Taxes
$22,804

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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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16-18 Loring Ave
Salem, MA