385-387 Salem St, Malden MA 02148 – 6 bed 4 bath For Sale – 73373885
Overview
- Updated On:
- August 16, 2025
-
- 73373885
- 6 Bedrooms
- 4 Bathrooms
- 0 Garage Spaces
- 0 Non-Garage Parking Spaces
- 1900
Description
Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.
This property is listed by Tanyeli Ballinger from Leading Edge Real Estate
Property Listing Details
Overview
| MLS Status | Pending |
|---|---|
| Price | $ 1,350,000 |
| Living Area | 6,055.00 ft2 |
| Bedrooms | 6 |
| Total Rooms | 20 |
|---|---|
| Listing MLS ID | 73373885 |
| Days on Market | 39 |
| Bathrooms | 4 |
Unit Information
| Bedrooms | 6 |
|---|---|
| Full Bathrooms | 4 |
| Half Bathrooms | 0 |
| Cooling | None |
| Heating | Electric |
| Uncovered Parking | 0 |
| Garage Parking | 0 |
| Water View | No |
| Unit Level |
| Common Walls | |
|---|---|
| Laundry Features | |
| Lead Paint | Unknown |
| Outdoor Space Available | |
| Living Area Includes Basement | Walk-Out Access,Concrete,Unfinished |
| Patio And Porch Features | |
| Parking Features | |
| Waterview Features | |
| Flooring | Tile,Concrete,Hardwood,Carpet,Wood |
Building Information
| Building Name | |
|---|---|
| Units in Building | 5 |
| Pets Allowed | |
| Association Amenities | |
| Pool Features | |
| Waterfront Features | |
| Association Fee Includes | |
| Construction Materials | Stone |
| Year Built | 1900 |
|---|---|
| Security Features | |
| Sewer | Public Sewer |
| Spa Features | |
| Structure Type | |
| Water Source | Public |
| Basement | Walk-Out Access,Concrete,Unfinished |
| Roof | Tar/Gravel |
Additional Details
| Community Features | Public Transportation,Shopping,Highway Access,Public School,T-Station,Sidewalks |
|---|---|
| Disclosures | See attached. |
| Last Updated | August 16, 2025 at 12:35pm |
| Building Area Source | Public Records |
| MLS PIN Page | |
| Parcel Number | 102 731 104,598359 |
| Original List Price | 1350000 |
| Listing Office | leading edge real estate |
| Tax Annual Amount | 14854.8 |
|---|---|
| Tax Assessed Value | 1054000 |
| Tax Book Number | 31739 |
| Tax Year | 2024 |
| Year Built Details | Approximate |
| Year Built Source | Public Records |
| Zoning | NB |
| Listing Agent | tanyeli ballinger |
Amenities and Features
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385-387 Salem St, Malden MA 02148 | © 2024 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS ARE DEEMED RELIABLE, BUT SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. THE NUMBER OF BEDROOMS LISTED ABOVE IS NOT A LEGAL CONCLUSION. EACH PERSON SHOULD CONSULT WITH HIS/HER OWN ATTORNEY, ARCHITECT OR ZONING EXPERT TO MAKE A DETERMINATION AS TO THE NUMBER OF ROOMS IN THE UNIT THAT MAY BE LEGALLY USED AS A BEDROOM. EQUAL HOUSING OPPORTUNITY.
385-387 Salem St, Malden MA 02148 – 6 bed 4 bath For Sale – 73373885
$ 1,350,000
Status: Pending
385-387 Salem St, Malden MA 02148, Malden, Faulkner, Middlesex 02148
Country: US
Property Overview
MLS #: 73373885
Type: 5+ Family - 5+ Units Up/Down /
Action: Residential Income
Year Built: 1900 (Approximate, Source: Public Records, Effective: )
Living Area: 6,055.00 ft2 (Total: 6055 Square Feet, Source: Public Records)
Lot Size: 0.05 ft2 (Area: 0.05 Acres, SqFt: 2348)
Total Rooms: 20
Condition:
Availability:
Building Name:
Interior Features
Bedrooms: 6 (Main Level: )
Bathrooms: Total: 4 (Full: 4, Half: 0, Decimal: 4, Main Level: )
Basement: Walk-Out Access,Concrete,Unfinished
Fireplaces: 0 ()
Flooring: Tile,Concrete,Hardwood,Carpet,Wood
Laundry:
Window Features:
Door Features:
Accessibility:
Entry: Level , Location:
Other Equipment:
Construction & Design
Style:
Materials: Stone
Foundation: Brick/Mortar (Area: )
Roof: Tar/Gravel
Stories: 3 (3)
Common Walls:
Body Type:
Utilities & Green Features
Heating: Electric
Cooling: None
Water Source: Public
Sewer: Public Sewer ()
Utilities: for Gas Range,for Electric Range
Electric: 100 Amp Service (Expense: )
Gas:
Energy Certificate:
Green Energy Efficient:
Green Energy Generation:
Green Indoor Air Quality:
Green Water Conservation:
Insulation:
Exterior & Lot Features
Garage Spaces: 0
Covered Spaces: 0
Parking Total: 0
Parking Features:
Pool:
Spa:
Patio/Porch:
Fencing:
Lot Features: Corner Lot
View: (, Waterview Y/N: No)
Waterfront:
Road Frontage: Public ()
Road Surface:
Road Responsibility:
Other Structures:
Horse Amenities:
Wooded Area:
Pasture Area:
Cultivated Area:
Additional Parcels: (Number: )
Outdoor Space:
Community & Association
Community Features: Public Transportation,Shopping,Highway Access,Public School,T-Station,Sidewalks
Association Fee: ()
Fee Includes:
Association Amenities:
Pets Allowed:
Schools: E: Salemwood, M: Salemwood, H: Malden High
Zoning: NB ()
MLS Area: Major: , Minor:
Management:
Optional Fee: (Includes: )
Property Description
Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.
Room Details
Living Room (): x ( sqft) - Features:
Dining Room (): x ( sqft) - Features:
Kitchen (): x ( sqft) - Features:
Master Bedroom (): x ( sqft) - Features:
Master Bathroom: Features:
Laundry Dimensions:
Multi-Unit Information (if applicable)
Total Units: 5
Units Owner Occupied:
Unit 1: Beds: 2, Full Baths: 1, Half Baths: 0, Levels: 0, Rent: 1700, Lease: N
Unit 2: Beds: 1, Full Baths: 1, Half Baths: 0, Levels: 0, Rent: 0, Lease: N
Unit 3: Beds: 1, Full Baths: 1, Half Baths: 0, Levels: 0, Rent: 0, Lease: N
Unit 4: Beds: 2, Full Baths: 1, Half Baths: 0, Levels: 0, Rent: 1900, Lease: N
Complex Complete:
Unit Building:
Financial & Lease Information
Tax Annual Amount: 14854.8 (Year: 2024)
Tax Assessed Value: 1054000
Tax Block/Lot/Book/Map: 731 / 104 / 31739 / 102
Parcel Number: 102 731 104,598359
Special Licenses:
Current Financing:
Gross Income: 43200 (Scheduled: )
Net Operating Income: 18918
Operating Expense: 24282 (Water/Sewer: 4726, Insurance: 4100)
Financial Data Source: Owner
APOD Available: No
Tenant Pays:
Rent Includes: Unit 1(Water),Unit 2(Water),Unit 3(Water),Unit 4(Water)
Total Actual Rent: 3600
Lease Term: (Existing Type: )
Deposit Required: (Security: , First Month: , Last Month: )
Insurance Required:
References Required:
Listing & Agent Information
Listing Agent: Tanyeli Ballinger (MLS ID: CN244873) / Team: G0001846
Listing Office: Leading Edge Real Estate (MLS ID: AN5774)
Agent (Property): 369593
Buyer Agent MLS ID:
Buyer Office MLS ID:
Listing Agreement: Exclusive Right To Sell
Listing Contract Date: 2025-05-13
Expiration Date: 1900-01-01
Original List Price: 1350000
Price Per SqFt (List): 222.96
Market Time (Property): 39 (Broker: 39, Prev Broker: 0, Prev Property: 0)
MLS Status: Under Agreement
Possession:
Directions: On Salem St. near Broadway, on MBTA bus lines, close to Route 1 & 60, prime high-traffic location
Disclosures: See attached., Y
Lead Paint: Unknown
Title 5:
Exclusions:
Contingency: Pending P&S
Special Listing Conditions:
Lender Owned:
Short Sale Lender Approval Required:
Home Warranty Y/N:
Documents Available: (Count: )
Showings Deferral Date:
Open House Flag:
Listing Alert: No
Square Feet Disclosures: See floor plan (Incl. Base: No, Other: )
Master Book/Page: / (Page: 385)
Sale Information (if applicable)
Close Date:
Close Price:
Price Per SqFt (Sold):
Anticipated Sold Date: 2025-08-18T04:00:00.000Z
Concessions Amount:
Purchase Contract Date: 2025-06-05
Sold vs Rent:
System Information
Property ID: 2158892
Modification Timestamp: August 16, 2025 at 12:35pm
Bridge Modification Timestamp: August 16, 2025 at 12:37pm
Original Entry Timestamp: May 13, 2025 at 07:54pm
Status Change Timestamp: June 21, 2025 at 07:05am
Off Market Date: 2025-06-20
Development Status:
Business Type:
