Minutes from downtown Salem, Salem Common, and the T-station, this well-maintained 2-unit property offers a fantastic investment or owner occupant opportunity. The first-floor unit features 2 beds, 1 bath, while the spacious second-floor unit spans 2 levels with 3 beds and 2 full baths, including a primary bath. Both units feature in-unit laundry, cherry cabinets, granite counters, and stainless steel appliances. The open-concept kitchen, living, and dining areas are highlighted by hardwood floors. High-efficiency gas heating, central air, and separate utilities throughout. The property has had many updates in the past 10 years, ensuring modern comfort. Outside, you’ll find a shed and parking for 3 cars. The 3-bed unit rents for $2,802/month, and the 2-bed unit for $1850/month. This turnkey property is perfect for investors or owner-occupants looking to offset their mortgage with rental income.

Property Details

Price:
$850,000
MLS #:
73367401
Status:
Active
Beds:
5
Baths:
3
Address:
4 Lemon Street Ct
Type:
Multi Family
City:
Salem
Listed Date:
Apr 30, 2025
State:
MA
Finished Sq Ft:
2,005
Total Sq Ft:
2,005
ZIP:
01970
Lot Size:
2,400 sqft / 0.06 acres (approx)
Year Built:
1880
Units:
2

Schools

Interior

Appliances
Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
Bathrooms
3 Full Bathrooms
Cooling
Central Air
Flooring
Wood, Tile, Carpet, Hardwood, Stone/ Ceramic Tile
Heating
Forced Air, Natural Gas
Laundry Features
Electric Dryer Hookup, Washer Hookup

Exterior

Community Features
Public Transportation, Shopping, Tennis Court(s), Park, Walk/ Jog Trails, Golf, Medical Facility, Bike Path, Conservation Area, House of Worship, Marina, Public School, T- Station, University
Construction Materials
Frame
Exterior Features
Rain Gutters
Other Structures
Shed(s)
Parking Features
Paved Drive, Off Street, Paved
Parking Spots
3
Roof
Shingle

Financial

Net Operating Income
$61,200
Tax Year
2025
Taxes
$8,652

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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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4 Lemon Street Ct
Salem, MA