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Welcome to 55 Butler St! This sun-filled 2-family opportunity on a corner lot w/ a history of strong rent offers incredible flexibility for investors or owner-occupants alike! The first floor unit features 2 bedrooms, 1 bathroom and a parking space, while Unit 2 is an upper duplex featuring 3 bedrooms, 2 full bathrooms, 2 parking spaces and a small sunroom off the kitchen w/ 2 additional bonus rooms on the 3rd floor! The building also includes a large basement w/ separate washers/dryers. Both existing units were renovated in 2018 (including updated heat/hot water systems and electrical). Fully approved by the Salem ZBA to convert from a 2- to 3-unit building by splitting Unit 2 into individual units on the two separate floors. The approved plans were designed to facilitate the conversion, with the new 3rd floor unit retaining its existing bathroom. A kitchen, skylights and laundry to be added. Home is vacant. Prime location already green-lit for expansion!
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:
$949,000
MLS #:
73446309
Status:
Active
Beds:
6
Baths:
3
Type:
Multi Family
Subtype:
2 Family – 2 Units Up/Down
Neighborhood:
gallowshill
Listed Date:
Oct 22, 2025
Finished Sq Ft:
2,536
Total Sq Ft:
2,536
Lot Size:
4,251 sqft / 0.10 acres (approx)
Year Built:
1880
Units:
2
Gallows HillGallowshill

Schools

Interior

Bathrooms
3 Full Bathrooms
Flooring
Wood

Exterior

Community Features
Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Public School
Parking Features
Off Street
Parking Spots
3

Financial

Tax Year
2025
Taxes
$9,931

Map

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Community

Property Summary

    55 Butler St Salem MA is a Multi Family for sale in Salem, MA, 01970. It is listed for $949,000 To schedule a showing of MLS#73446309 at 55 Butler St 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
55 Butler St
Salem, MA