108-122 Lafayette Salem, MA $ 6,500,000
108-122 Lafayette
$ 6,500,000
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108-122 Lafayette

Salem, MA, 01970
$ 6,500,000
Baths0.0

Monthly Estimate*

$ 38,929

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Studio

Commercial Property for sale in Salem, MA

for $6,500,000. This building was built in 1915 on a lot size of 0.18.

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.

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Commercial Active

Price

$ 6,500,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 48,417

Style

Lot Size

0.18

Year Built

1915

Town/City

Salem

County/Region

Essex

MLS | Web ID

73264543

List By
Francesca Little

Listing Agent

Little & Co., Realtors®

Broker

Affordability Calculator

$42,964
Per Month
91%
9%
0%
Monthly Principal & Interest
$38,929
Monthly Property Taxes
$4,035
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Pricing History
DatePricePrice ChangeDescription
7/15/2024$6,500,000 Listed Price

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108-122 Lafayette, Salem, MA, 01970 is a Commercial Property for sale at $6,500,000 with a lot size of 0.18. 108-122 Lafayette is a studio with 0.0 baths and was built in 1915. The property's zip code is 01970 which is in Salem, MA