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Fantastic opportunity to own a well-maintained, income producing three-family property in desirable Salem! The Property features spacious units and a versatile layout making it ideal for both owner-occupants and investors looking to generate rental income. The first floor offers four (4) bedrooms spanning two levels while the second floor offers three (3) large bedrooms and two (2) full bathrooms. The vacant third-floor unit features two (2) bedrooms, providing the perfect opportunity for an owner-occupant or an investor looking to secure an additional rental stream. The two occupied units currently generate $7,000 in gross monthly rental income including coin op laundry. Heat and hot water are included in the rents. Four off-street parking spaces add even more convenience and value. With generous living spaces, strong existing rental income, and a vacant unit ready for its next chapter, this is an excellent opportunity to invest in Salem's multifamily market.

More Info

Basic Information

  • Gross Income $112,500
  • Lot Features Other
  • Mls StatusNew
  • Parcel Number 2128672
  • Rent Includes Unit 1(Heat, Hot Water), Unit 2(Heat, Hot Water)

Tax Information

  • Tax Assessed Value $717,200
  • Tax Year 2025
  • Taxes$7,797

Parking

  • Parking Features Off Street
  • Parking Spaces4

Rooms

  • Bathroom4
  • Bathrooms Total Decimal 4
  • Bedrooms9
  • Full Bath4

Basic Information

  • List Price$925,000
  • MLS Number73594996
  • Modification Date10/27/2026
  • Property SubType3 Family

Location

  • Address19 Nichols
  • Building Number19
  • CountyEssex
  • StateMA
  • StreetNichols
  • TownSalem
  • Zip01970

Building

  • BasementFull, Finished
  • Building Area Units Square Feet
  • FoundationStone
  • Levels 4
  • Rooms14
  • Stories4
  • Units3
  • Year Built1890
  • Year Built Details Approximate
  • Year Built Source Public Records

Property

  • Acreage0.06

Exterior

  • RoofShingle

Utilities

  • Electric Expense 1169
  • Heat SystemYes
  • Heating Natural Gas
  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 4,420
  • Lot Size Square Feet 2,614
  • Lot Size Units Acres
  • Square Feet4,420

Amenities

  • Amenities
    • Highway Access
    • Medical Facility
    • Park
    • Public School
    • Public Transportation
    • T-Station
  • Other AmenitiesBasement

Legal

  • ZoningR1

Other

  • Date Listed10/26/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Francesca Little of Little & Co.,REALTORS®

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