5 Ropes & 8-10 Porter St Ct, Salem MA 01970 – 34 bed 12 bath For Sale – 73339638
Overview
- Updated On:
- March 12, 2025
-
- 73339638
- 34 Bedrooms
- 12 Bathrooms
- 6 Garage Spaces
- 21 Non-Garage Parking Spaces
- 1915
Description
Investors take notice of a rare offering in downtown Salem. 5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story 6-unit buildings with a total square footage of 19,720± with a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages for additional income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and the opportunity to increase rents to market with minimal capital. The offering is near public transportation, restaurants, and many local amenities within walking distance of the subject properties.
This property is listed by Michael McCarthy from North Shore Realty Advisors
Property Listing Details
Overview
| MLS Status | Pending |
|---|---|
| Price | $ 3,700,000 |
| Living Area | 13,472.00 ft2 |
| Bedrooms | 34 |
| Total Rooms | 54 |
|---|---|
| Listing MLS ID | 73339638 |
| Days on Market | 11 |
| Bathrooms | 12 |
Unit Information
| Bedrooms | 34 |
|---|---|
| Full Bathrooms | 12 |
| Half Bathrooms | 0 |
| Cooling | |
| Heating | |
| Uncovered Parking | 21 |
| Garage Parking | 6 |
| Water View | |
| Unit Level |
| Common Walls | |
|---|---|
| Laundry Features | |
| Lead Paint | Unknown |
| Outdoor Space Available | |
| Living Area Includes Basement | Full |
| Patio And Porch Features | Deck - Wood,Deck - Vinyl,Deck - Composite |
| Parking Features | Paved Drive,Shared Driveway,Off Street |
| Waterview Features | |
| Flooring | Wood,Tile,Vinyl |
Building Information
| Building Name | |
|---|---|
| Units in Building | 12 |
| Pets Allowed | |
| Association Amenities | |
| Pool Features | |
| Waterfront Features | |
| Association Fee Includes | |
| Construction Materials | Frame,Brick,Stone |
| Year Built | 1915 |
|---|---|
| Security Features | |
| Sewer | Public Sewer |
| Spa Features | |
| Structure Type | |
| Water Source | Public |
| Basement | Full |
| Roof | Shingle,Rubber |
Additional Details
| Community Features | Public Transportation,Shopping,Park,Walk/Jog Trails |
|---|---|
| Disclosures | |
| Last Updated | 2025-03-12T02:10:00.000Z |
| Building Area Source | Public Records |
| MLS PIN Page | |
| Parcel Number | |
| Original List Price | 3700000 |
| Listing Office | north shore realty advisors |
| Tax Annual Amount | 28941 |
|---|---|
| Tax Assessed Value | 2540300 |
| Tax Book Number | 20735 |
| Tax Year | 2025 |
| Year Built Details | Approximate |
| Year Built Source | Public Records |
| Zoning | R3 |
| Listing Agent | michael mccarthy |
Amenities and Features
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5 Ropes & 8-10 Porter St Ct, Salem MA 01970 | © 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.
5 Ropes & 8-10 Porter St Ct, Salem MA 01970 – 34 bed 12 bath For Sale – 73339638
$ 3,700,000
Status: Pending
5 Ropes & 8-10 Porter St Ct, Salem MA 01970, Salem, , Essex 01970
Country: US
Property Overview
MLS #: 73339638
Type: 5+ Family - 5+ Units Up/Down /
Action: Residential Income
Year Built: 1915 (Approximate, Source: Public Records, Effective: )
Living Area: 13,472.00 ft2 (Total: 13472 Square Feet, Source: Public Records)
Lot Size: 0.40 ft2 (Area: 0.4 Acres, SqFt: 17611)
Total Rooms: 54
Condition:
Availability:
Building Name:
Interior Features
Bedrooms: 34 (Main Level: )
Bathrooms: Total: 12 (Full: 12, Half: 0, Decimal: 12, Main Level: )
Basement: Full
Fireplaces: 0 ()
Flooring: Wood,Tile,Vinyl
Laundry:
Window Features: Insulated Windows
Door Features: Insulated Doors
Accessibility:
Entry: Level , Location:
Other Equipment:
Construction & Design
Style:
Materials: Frame,Brick,Stone
Foundation: Stone (Area: 99999)
Roof: Shingle,Rubber
Stories: 5 (5)
Common Walls:
Body Type:
Utilities & Green Features
Heating:
Cooling:
Water Source: Public
Sewer: Public Sewer ()
Utilities: for Gas Range,for Electric Range,Varies per Unit
Electric: 200+ Amp Service (Expense: 1597)
Gas:
Energy Certificate:
Green Energy Efficient: Varies per Unit
Green Energy Generation:
Green Indoor Air Quality:
Green Water Conservation:
Insulation:
Exterior & Lot Features
Garage Spaces: 6
Covered Spaces: 6
Parking Total: 21
Parking Features: Paved Drive,Shared Driveway,Off Street
Pool:
Spa:
Patio/Porch: Deck - Wood,Deck - Vinyl,Deck - Composite
Fencing:
Lot Features: Level
View: (, Waterview Y/N: )
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,Park,Walk/Jog Trails
Association Fee: ()
Fee Includes:
Association Amenities:
Pets Allowed:
Schools: E: , M: , H:
Zoning: R3 ()
MLS Area: Major: , Minor:
Management:
Optional Fee: (Includes: )
Property Description
Investors take notice of a rare offering in downtown Salem. 5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story 6-unit buildings with a total square footage of 19,720± with a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages for additional income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and the opportunity to increase rents to market with minimal capital. The offering is near public transportation, restaurants, and many local amenities within walking distance of the subject properties.
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: 12
Units Owner Occupied:
Unit 1: Beds: 3, Full Baths: 1, Half Baths: 0, Levels: 1, Rent: 2850, Lease: N
Unit 2: Beds: 3, Full Baths: 1, Half Baths: 0, Levels: 1, Rent: 2700, Lease: N
Unit 3: Beds: , Full Baths: , Half Baths: , Levels: , Rent: , Lease:
Unit 4: Beds: , Full Baths: , Half Baths: , Levels: , Rent: , Lease:
Complex Complete:
Unit Building:
Financial & Lease Information
Tax Annual Amount: 28941 (Year: 2025)
Tax Assessed Value: 2540300
Tax Block/Lot/Book/Map: / / 20735 /
Parcel Number:
Special Licenses:
Current Financing:
Gross Income: 360912 (Scheduled: 312)
Net Operating Income: 251198
Operating Expense: 109714 (Water/Sewer: 10618, Insurance: 19737)
Financial Data Source: Accountant,Owner
APOD Available: Yes
Tenant Pays:
Rent Includes:
Total Actual Rent: 29376
Lease Term: (Existing Type: )
Deposit Required: (Security: , First Month: , Last Month: )
Insurance Required:
References Required:
Listing & Agent Information
Listing Agent: Michael McCarthy (MLS ID: CN235371) / Team: NB115212
Listing Office: North Shore Realty Advisors (MLS ID: AN7007)
Agent (Property): 57
Buyer Agent MLS ID:
Buyer Office MLS ID:
Listing Agreement: Exclusive Right To Sell
Listing Contract Date: 2025-02-28
Expiration Date: 1900-01-01
Original List Price: 3700000
Price Per SqFt (List): 274.64
Market Time (Property): 11 (Broker: 11, Prev Broker: 0, Prev Property: 0)
MLS Status: Under Agreement
Possession:
Directions: Washington Street to Ropes Street
Disclosures: , N
Lead Paint: Unknown
Title 5:
Exclusions:
Contingency:
Special Listing Conditions:
Lender Owned:
Short Sale Lender Approval Required:
Home Warranty Y/N:
Documents Available: (Count: )
Showings Deferral Date:
Open House Flag: 1
Listing Alert: No
Square Feet Disclosures: Total Gross 19,720 (Incl. Base: No, Other: )
Master Book/Page: / (Page: 527)
Sale Information (if applicable)
Close Date:
Close Price:
Price Per SqFt (Sold):
Anticipated Sold Date: 2025-05-01T04:00:00.000Z
Concessions Amount:
Purchase Contract Date: 2025-03-11
Sold vs Rent:
System Information
Property ID: 1839376
Modification Timestamp: 2025-03-12T02:10:00.000Z
Bridge Modification Timestamp: 2025-03-12T02:11:35.766Z
Original Entry Timestamp: 2025-02-28T15:11:00.000Z
Status Change Timestamp: 2025-03-12T02:10:00.000Z
Off Market Date: 2025-03-11
Development Status:
Business Type:
