Active
108-122 Lafayette
Salem MA, 01970
$6,500,000
Active
Commercial
Built in 1915
Looking for cash flow? This mixed-use property is a rare gem, boasting not only six (6) commercial spaces but also a thriving fifty seven (57) room rooming house. The rooming house consists of thirty three (33) rooms with private baths and twenty four (24) with shared baths. Using 2023 income this property is being offered at a 9.7% cap rate with projected rents for 2024 bringing to a 10.8% cap rate. A 5% vacancy has already been factored into the gross revenue. The first floor office and laundromat are currently being run by the owners and are included in the sale. The Landlord is responsible for all utilities for the rooming house and heat/hw and water/sewer for the commercial spaces. **THIS PROPERTY IS TO BE SOLD WITH 286 WASHINGTON ST MLS# 73264544**. Seller is open to exploring a seller financing deal for the right buyer. See attached for income/expenses and a rent roll of the commercial space. Rooming house rent rolls change weekly but can be provided upon request.
73264543
MLSⓇ ID
July 15, 2024
Listed
August 23, 2024
Updated
Map
108-122 Lafayette
Salem MA, 01970
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.18 Acres
Roof
Rubber
Other Property Details
Taxes
$48,417
Tax Frequency
Annually
Garage
No
Parking Total
6
View
No
County
Essex
Pool
No
Zoning
B5
Courtesy of Francesca Little, Little & Co., REALTORS®
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Data last updated 9:58 AM UTC, 8/23/2024
