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Home Massachusetts Multi-Family Homes for Sale

13-15 Ocean Ter Salem, MA 01970
Open House: Mon 7/14 5:30 PM
35
$1,399,999
Total Beds: 7 Total Baths: 5
Total Units: 4 SQFT: 3647
LOT size: 0.13 Acres
13-15 Ocean Ter
Salem, MA 01970
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Property Description

Wake up to the sound of the ocean and watch the sunrise from your window—this is everyday life at this rare 4-family home in Salem’s beloved Forest River Park neighborhood. With ocean views from nearly every room, this property offers the perfect blend of lifestyle and income. The flexible layout features three bright and efficient 1-bedroom, 1-bath units, plus a sun-filled 3–4 bedroom, 2-bath townhouse-style unit—ideal for owner-occupancy or maximizing rental potential. Enjoy two updated kitchens, several refreshed baths, beautiful hardwood floors, and a roof replaced less than 3 years ago. With five off-street parking spots and a shared yard, outdoor living is just as appealing as the view. Enjoy mornings at Forest River Park, spend weekends on nearby beaches, and explore downtown Salem’s shops, restaurants, and culture—all just minutes from your door. Whether you’re building a portfolio or dreaming of coastal living with bonus income, this one-of-a-kind property delivers.
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Property Details

Building Information

  • Total Units: 4
  • Total Floors: 5
  • Total Bedrooms: 7
  • Total Full Baths: 5
  • Total Fireplaces: 2
  • Basement Features: Full
  • Common Interior Features: Tile Floor

Financial

  • APOD Available: Yes
  • Gross Operating Income: 115500
  • Gross Expenses: 1056
  • RFS: 1056
  • Net Operating Income: 114444

Utilities

  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 2

Construction

  • Year Built: 1900
  • Type: 4 Family
  • Foundation Info: Brick, Fieldstone
  • Flooring Type: Tile, Vinyl, Wood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73402986
  • Last Updated: 07/11/25

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Map

Seller's Representative: Shannon McInnis, Keller Williams Realty Evolution
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

© 2025 MLS Property Information Network, Inc.. All rights reserved.

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 2025-07-11 03:30:00

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