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EASY TO OWN - Well-Maintained 2-Unit Apartment Building in a Prime Location. An investment opportunity in an area tenants love. This well-kept 2-unit property features two one-bedroom apartments and additional finished attic space. Just moments from the train, Derby Wharf, Salem Common, Peabody-Essex Museum, and downtown shops and restaurants, making it highly desirable for renters. Property Features: Coin-op laundry in the basement, individual FHW gas heating units (installed within the last 5 years), tandem parking for 2 cars, plus on-street permit parking, newer carpets, and replacement of some windows, skylights, and a Juliet balcony on the third floor. FOR THE SMART BUYER looking to invest in a property with strong rental appeal and long-term potential. Showings by appointment only, beginning on Saturday 1pm-3pm. Please allow 48 hours for responses to Offers. Seller reserves the right to accept an Offer at any time.

More Info

Basic Information

  • Gross Income $39,600
  • Lot Features Level
  • Mls StatusUnder Agreement
  • Parcel Number M:35 L:0317,2136721
  • Rent Includes Unit 1(Electric, Water), Unit 2(Water)
  • Road Frontage DescriptionPaved

Location

  • Address5 Herbert Street
  • Building Number5
  • CountyEssex
  • StateMA
  • StreetHerbert Street
  • TownSalem
  • Zip01970

Exterior

  • RoofShingle

Property Information

  • Building Area Source Public Records
  • Living Area 1,786
  • Lot Size Square Feet 1,851
  • Lot Size Units Acres
  • Road Responsibility Public Maintained Road
  • Square Feet1,786

Other

  • Date Listed04/23/2026
  • Farm Land Area Units Square Feet

Tax Information

  • Tax Assessed Value $741,300
  • Tax Year 2025
  • Taxes$8,406

Rooms

  • Bathroom2
  • Bathrooms Total Decimal 2
  • Bedrooms2
  • Full Bath2

Building

  • BasementFull, Interior Entry, Concrete, Unfinished
  • Building Area Units Square Feet
  • FoundationStone
  • Foundation Area 893
  • Levels 2
  • Rooms6
  • Stories2
  • Units2
  • Year Built1864
  • Year Built Details Approximate
  • Year Built Source Public Records

Amenities

  • Amenities
    • Bike Path
    • Conservation Area
    • Laundromat
    • Marina
    • Medical Facility
    • Park
    • Public School
    • Public Transportation
    • Shopping
    • T-Station
    • University
    • Walk/Jog Trails
  • Appliances IncludedWasher, Dryer, Range, Refrigerator
  • Other AmenitiesBasement

Parking

  • Open Parking YN Yes
  • Parking Features Off Street, Tandem, On Street
  • Parking Spaces2

Basic Information

  • List Price$625,000
  • MLS Number73506256
  • Modification Date04/28/2026
  • Property SubTypeMulti Family
  • Purchase Contract Date04/27/2026

Property

  • Acreage0.04

Interior

  • Flooring Vinyl, Carpet, Laminate
  • Interior Features Laundry Room, Bathroom With Tub & Shower, Living Room, Kitchen

Utilities

  • Electric Circuit Breakers, Individually Metered
  • Electric Expense 423
  • Heating None, Baseboard, Natural Gas, Individual, Unit Control
  • Sewer Public Sewer
  • Water Source Public

Map Location

Listed by Tina McManus of J. Barrett & Company

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLSPIN and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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