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Another Property Sold - 58 Bridge St, Salem, MA 01970

by Maria Salzillo 08/04/2022

58 Bridge St, Salem, MA 01970
MultifamilySold
List Price $950,000
Sold Price $965,000
58 Bridge St
Salem, MA 01970
MLS Property Information Network
9Beds
10Baths
4,501Sq Ft
Est. Mortgage
$5,004/mo

Investors: Rare opportunity to buy a Salem MA 6 Family located in the desirable Salem Neck neighborhood with easy access to public transportation, boating, public beaches, and downtown Salem and Beverly MA. Current Cap Rate is 7% at a $950,000 valuation. Heat, hot water and electric are separate for each of the units. Property is sold AS IS with tenants. All Tenants are TAW. Property is in need of updating. Projected Cap Rate after updating is 8.2% based on a valuation of $1,250,000. Reasonable projected rents were used. Note: There are 7 gas hot water boilers and 7 gas hot water tanks as the townhouse unit has two heating systems and 2 hot water tanks, one for each floor. This property is a Potential Condominium Conversion. Request our Investment Analysis of this Property. Offer Instructions: for Financed Offers, include a commercial loan pre-approval; for Cash Offers include proof of funds.

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About the Author
Author

Maria Salzillo

Explore the North Shore and more with Mrs. Realtor Agent -Maria Salzillo (Imprescia)

I have designed this site as a tool for my clients to provide them with the important information and resources needed to make educated decisions. Home buying and/or selling is one of the most expensive and emotional transactions one endures. I pride myself on ensuring the process is as streamlined as possible and keeping my customers informed every step of the way. I continuously research market analysis information to be sure I have the most current market and trend information. Education is a priority. I am always attending classes and/or seminars and earning certifications in areas I feel will benefit my clients.

These practices are what make the difference! They have proven to be the necessary ingredients for a successful transaction.