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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

Tax Information

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

Parking

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

Rooms

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

Basic Information

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

Location

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

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

Property

  • Acreage0.04

Interior

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

Exterior

  • RoofShingle

Utilities

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

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

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

Legal

  • ZoningR2

Other

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

Map Location

Driving Directions

Listed by Tina McManus of J. Barrett & Company

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