Canceled
113 Days on market
8-10 & 5 Porter St Ct & Ropes Portfolio Salem — Photo 1 of 41

8-10 & 5 Porter St Ct & Ropes Portfolio Salem — Photo 1 of 41

$4,200,000

8-10 & 5 Porter St Ct & Ropes Portfolio, Salem, MA 01970

Salem, MA 01970

Beds

34

Baths

12

SqFt

13,472

Style

5+ Family - 5+ Units Up/Down

Built

1915

5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story, 6-unit buildings with a total square footage of 19,720± and a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages currently generating substantial income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and storage units per apartment for additional income. Investors will hedge any risk with multiple revenue streams within one investment opportunity. The offering is within walking distance of public transportation, restaurants, and many local amenities.

Market Value Analysis

This Property
Size (SqFt) →Price →
This Property$312/sqft
Local Avg (Salem)$354/sqft
12% BelowMarket Average

* Analysis is based on 20 actively listed and recently sold comparable properties strictly within Salem, MA.

Property Details

Financials

Original Price$4,200,000
Annual Taxes$35,875

Parking

Garage6
Off-Street27

Interior Specifications

Total Rooms60
FireplacesNone
FlooringTile, Vinyl, Hardwood
BasementFull, Interior Entry

Climate & Utilities

Heating--
Cooling--
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionBrick, Stone
RoofShingle, Rubber
FoundationStone, Brick/Mortar
ZoningR3

Property & Lot

Acres0.4
SqFt Lot17,611
Lot FeaturesLevel

Neighborhood

Public Transportation • Shopping • Park • Medical Facility

Geography

Population

44,738

U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)

Median Household Income

$85K

U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)

Renter-Occupied Homes

50.4%

U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)

New Construction Permits — Essex County

1,060 housing units permitted in the last 12 months (-11% vs the prior 12 months) — 603 in 5+ unit buildings

U.S. Census Bureau, Building Permits Survey (through Jul '26)

Listing Provided By

Listing Agent: Dan Pouladian

Listing Office: North Shore Realty Advisors

MLS® Number: 73528048

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