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This fully renovated, turn-key 3-family is ideally located just 3/4 mile to downtown Salem and 1/2 mile to the beach, park, and hiking trails. Updates include a new roof, siding, windows, and doors, plus high-efficiency gas heat & hot water, gleaming hardwood floors, modern kitchens, custom tiled baths, and private laundry in each unit. The property features a spacious wrap-around first-floor porch, second-floor porch, and off-street parking for five cars. Low-maintenance and beautifully updated, this property is perfect for owner-occupants, extended family, or investors seeking excellent rental potential near Salem State University. Incredible opportunity! All units are occupied with leases in place and a strong rent roll.
Current real estate data for Multi Family in Salem as of Nov 17, 2025
14
Multi Family Listed
179
Avg DOM
309
Avg $ / SqFt
$1,629,343
Avg List Price

Property Details

Price:
$1,295,000
MLS #:
73446144
Status:
Active
Beds:
7
Baths:
3.5
Type:
Multi Family
Subtype:
3 Family
Listed Date:
Oct 21, 2025
Finished Sq Ft:
3,650
Total Sq Ft:
3,650
Lot Size:
3,080 sqft / 0.07 acres (approx)
Year Built:
1910
Units:
3

Schools

Interior

Bathrooms
3 Full Bathrooms, 1 Half Bathroom

Exterior

Parking Spots
5

Financial

Net Operating Income
$33,600
Tax Year
2025
Taxes
$13,040

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Property Summary

    51 Ocean Ave Salem MA is a Multi Family for sale in Salem, MA, 01970. It is listed for $1,295,000 To schedule a showing of MLS#73446144 at 51 Ocean Ave in Salem, MA, contact your Boardwalk Real Estate Corp. agent at 781-944-7820.

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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
51 Ocean Ave
Salem, MA