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255 Jefferson Ave, Salem, MA
$ 1,250,000
Property Attributes
  • MLS#73160178
  • TypeMulti-Family
  • CountyESSEX
  • CitySalem
  • AreaSouth Salem
  • Zip01970
  • Style4 Family
  • Year Built1890
  • Taxes$ 10372
  • Price$ 1,250,000
  • Bedrooms7
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage3521
  • Lot Size6,534 SqFt
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
Property Description

A true cash cow next to Salem State University, 1 mile to downtown Salem & Commuter Rail, 1/2 mile to Salem High School & HMLS elementary and local amenities. Seller has done over $150k in recent renovation. All units have in-unit laundry and share generous 8 car parking. Three 2 bedroom units and a townhouse style 1 bedroom unit. Two of the 2 bedroom units are renovated (2023), one was updated (2019). This is entirely turn-key. Unit 1 rented at $2400, unit 2 at $2600, unit 3 at 2600 and the 1 bedroom rented at $2150. 117k gross annual income

Elementary School Middle School High School
Horace Mann Elementary School Collins Middle School Salem High School
Price History
9/16/2023 Listed $1,300,000
10/24/2023 2% - $1,275,000
11/27/2023 2% - $1,250,000

General Features

Appliances Utility Connections for Gas Range, Utility Connections for Electric Dryer
Building Area Units Square Feet
City Salem
Community Features Public Transportation, Shopping, Pool, Park, Walk/Jog Trails, Golf, Medical Facility, Bike Path, Conservation Area, Highway Access, House of Worship, Marina, Private School, Public School, T-Station, University
Compensation Based On Net Sale Price
Construction Materials Frame
County Essex
Directions GPS
Disclosures Four units, 3 are 2 bed 1 bath and one is a townhouse style 1 bed 1 bath. Units #2 & 3 (both 2 bed 1 bath) are newly renovated.
Elementary School Horace Mann
Exterior Features Porch
Garage Y/N No
Gross Income 117000
High School Salem
Home Warranty Y/N No
Insurance Expense 4500
Lot Size Square Feet 6525
MLS Area South Salem
Middle/Junior High School Collins
Net Operating Income 117000
Operating Expense 8320
Patio/Porch Features Porch
Property SubType 4 Family
Property Type Residential Income
Roof Shingle
Senior Community Y/N No
Sewer Public Sewer
Standard Status Active
Status Active
Street Name Jefferson Ave
Sub-Agency Relationship Offered No
Tax Annual Amount 10372
Tax Assessed Value 829100
Tax Lot 0091
Tax Year 2023
Total Actual Rent 9750
Total Rooms 14
Total Units 4
Utilities for Gas Range, for Electric Dryer, Washer Hookup
Water Sewer Expense 2400
Waterfront Features Beach Front, Harbor, 1 to 2 Mile To Beach, Beach Ownership(Public)
Waterfront Y/N No
Year Built 1890
Year Built Details Renovated Since
Year Built Source Public Records
Zoning B1

Interior Features

Basement Full, Unfinished
Fireplace Y/N No
Flooring Tile, Hardwood
Full Baths 4
Laundry Features Washer Hookup
Total Baths 4
Total Bedrooms 7
Total Stories 7
Window Features Insulated Windows

Exterior Features

Facilitator Compensation 1
Living Area 3521
Building Area Total 3521
Foundation Details Stone
Lot Features Level
Lot Size Acres 0.15
Lot Size Area 0.15
Lot Size Units Acres
Open Parking Y/N Yes
Parking Features Paved Drive, Off Street, Assigned
Road Frontage Type Public
Spa No
Total Parking 8
Water Source Public


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 01970

AVG $870K
AVG $7,353
AVG 222
Data Provided by Inside Real Estate®
Year Built
AVG 1881
AVG 79
Data Provided by Walkscore® not using MLS data

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