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Home Massachusetts Multi-Family Homes for Sale

4 Lemon Street Ct Salem, MA 01970
25 Days on Jacob Realty
34
$850,000
Total Beds: 5 Total Baths: 3
Total Units: 2 SQFT: 2005
LOT size: 0.06 Acres
4 Lemon Street Ct
Salem, MA 01970
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Property Description

Minutes from downtown Salem, Salem Common, and the T-station, this well-maintained 2-unit property offers a fantastic investment or owner occupant opportunity. The first-floor unit features 2 beds, 1 bath, while the spacious second-floor unit spans 2 levels with 3 beds and 2 full baths, including a primary bath. Both units feature in-unit laundry, cherry cabinets, granite counters, and stainless steel appliances. The open-concept kitchen, living, and dining areas are highlighted by hardwood floors. High-efficiency gas heating, central air, and separate utilities throughout. The property has had many updates in the past 10 years, ensuring modern comfort. Outside, you'll find a shed and parking for 3 cars. The 3-bed unit rents for $2,802/month, and the 2-bed unit for $1850/month. This turnkey property is perfect for investors or owner-occupants looking to offset their mortgage with rental income.
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Property Details

Building Information

  • Total Units: 2
  • Total Floors: 3
  • Total Bedrooms: 5
  • Total Full Baths: 3
  • Amenities: Bike Path, Conservation Area, Golf Course, House of Worship, Marina, Medical Facility, Park, Public School, Public Transportation, Shopping, Tennis Court, T-Station, University, Walk/Jog Trails
  • Basement Features: Full, Interior Access, Unfinished Basement
  • Common Rooms: Kitchen, Living RM/Dining RM Combo
  • Common Interior Features: Bathroom with Shower Stall, Bathroom With Tub & Shower, Stone/Granite/Solid Counters, Storage, Tile Floor
  • Common Appliances: Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer, Washer Hookup
  • Common Heating: Extra Flue, Forced Air, Gas, Heat Pump, Oil
  • Common Cooling: Central Air

Financial

  • APOD Available: No
  • Gross Operating Income: 61200
  • Gross Expenses: 1996
  • Electric Expenses: 120
  • Water/Sewer: 1360
  • RFS: 516
  • Net Operating Income: 61200

Utilities

  • Heat Zones: 2
  • Cooling Zones: 2
  • Electric Info: Circuit Breakers, Underground
  • Energy Features: Insulated Doors, Insulated Windows
  • Utility Connections: for Electric Dryer, for Electric Range, Washer Hookup
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 2

Construction

  • Year Built: 1880
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Hardwood, Tile, Wall to Wall Carpet, Wood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73367401
  • Last Updated: 05/04/25
  • Terms: Contract for Deed, Rent w/Option

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Map

Seller's Representative: The Lopes Group, J. Barrett & Company
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2025-05-04 04:05:00

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