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Home Massachusetts Multi-Family Homes for Sale

101 Ocean Ave Salem, MA 01970
NEW
30
$1,100,000
Total Beds: 6 Total Baths: 4
Total Units: 4 SQFT: 4394
LOT size: 0.11 Acres
101 Ocean Ave
Salem, MA 01970
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Property Description

Cash Buyer Opportunity or renovation loan – Exceptional income-producing four-unit asset with strong upside potential. Two units have been fully renovated and are currently leased, offering immediate, stable income. A third unit features a long-term tenant and presents a clear value-add opportunity, with the potential to be easily converted from a one-bedroom into a two-bedroom. 4TH UNIT REQUIRES A FULL RENO AND IS UNINHABITABLE SO PLEASE CHECK WITH YOUR LENDER ON FINANCING. A compelling opportunity for investors seeking both cash flow and future appreciation. This property sits right off of Canal street with plenty of commercial and restaurants within short distance and a future train station and other public transit close by. Great sized parking lot in rear. 48 hours notice for all showings. Do not walk on premises without the agent.
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Property Details

Building Information

  • Total Units: 4
  • Total Floors: 4
  • Total Bedrooms: 6
  • Total Full Baths: 4
  • Basement Features: Concrete Floor, Interior Access

Financial

  • APOD Available: Yes
  • Gross Operating Income: 85200
  • Gross Expenses: 6250
  • Water/Sewer: 2552
  • INSC: 3698
  • Net Operating Income: 78950

Utilities

  • Heat Zones: 4
  • Electric Info: 200 Amps
  • Utility Connections: for Gas Range
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

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

Unit 2 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 3 Description

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

Unit 4 Description

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

Construction

  • Year Built: 1930
  • Type: 4 Family
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone
  • Flooring Type: Laminate, Vinyl
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73491641
  • Last Updated: 03/27/26

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Map

Seller's Representative: AD Advisors Team, Block Realty
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 2026-03-27 03:30:00

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