Adding to the rental portfolio? Or maybe looking to get started? Look no further than 3 Hazel Street. Unit 1 and 2 offer flexible configuration and can be used as 1 or 2 bedroom units, each with 1 bathroom. Unit 3 is a charming 1 bed 1 bath unit. Unit 1 has had a recent renovation including new kitchen, refinished floors, and installation of a mini-split system offering heating and cooling. All units have separate electric and gas utilities. Still room for value-add by increasing rents, by doing cosmetic updates, and adding in-building laundry. This 3-family is nicely situated between Salem State University and Downtown, and will be in close proximity to the proposed South Salem Station. Salem and surrounding towns offer great amenities such as beaches, golf courses, restaurants, shops, and nature trails. A great long term play, 3 Hazel St will be a great investment!

Property Details

Price:
$875,000
MLS #:
73306955
Status:
Active
Beds:
5
Baths:
3
Address:
3 Hazel St
Type:
Multi Family
Subtype:
3 Family
City:
Salem
Listed Date:
Oct 28, 2024
State:
MA
Finished Sq Ft:
2,056
Total Sq Ft:
2,056
ZIP:
01970
Lot Size:
1,673 sqft / 0.04 acres (approx)
Year Built:
1915
Units:
3

Schools

Interior

Appliances
Range, Dishwasher, Microwave, Refrigerator
Bathrooms
3 Full Bathrooms
Cooling
Ductless
Flooring
Wood, Vinyl, Carpet
Heating
Ductless, Electric

Exterior

Community Features
Public Transportation, Walk/ Jog Trails, Laundromat, T- Station, University
Exterior Features
Balcony/ Deck, Balcony, Rain Gutters
Roof
Slate

Financial

Net Operating Income
$54,300
Tax Year
2024
Taxes
$7,326

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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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3 Hazel St
Salem, MA