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$1,625,000
Total Beds: 8 Total Baths: 7
Total Units: 6 SQFT: 5795
LOT size: 0.12 Acres
2-4 Saunders St
Salem, MA 01970
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Property Description

2–4 Saunders Street is a six-unit multifamily investment in Salem’s historic Bridge Street Neck neighborhood. Offered for the first time in more than 20 years, the property combines distinctive architectural character with value-add potential. Originally constructed in 1873 as the Arthur & George Phippen Double House, the Italianate-style building contains 8,792± square feet of total building area and 5,795± square feet of rentable living area. The unit mix includes one (1) one-bedroom apartment, four (4) one-bedroom-plus-office apartments, and one (1) two-bedroom, 1.5-bathroom townhome. The residences feature spacious layouts, high ceilings, abundant natural light, and hardwood floors. Coin-operated laundry provides supplemental income, while basement storage offers an additional revenue opportunity. Within walking distance of public transportation, neighborhood restaurants, Salem Common, Downtown Salem, and the waterfront, the property offers convenient access to the city’s primary amenities and enduring rental appeal.

Property Details

Building Information

  • Total Units: 6
  • Total Floors: 7
  • Total Bedrooms: 8
  • Total Full Baths: 6
  • Total Half Baths: 1
  • Amenities: Highway Access, Park, Public Transportation, Shopping, Walk/Jog Trails
  • Basement Features: Full
  • Common Rooms: Dining Room, Kitchen, Living Room, Office/Den
  • Common Interior Features: Tile Floor
  • Common Heating: Electric Baseboard, Oil, Radiant

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 119700
  • Gross Expenses: 50889
  • Net Operating Income: 66780

Utilities

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

Unit 1 Description

  • Included in Rent: Heat, Hot Water, Water
  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Unit 2 Description

  • Included in Rent: Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Included in Rent: Electric, Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 2
  • Levels: 2

Unit 4 Description

  • Included in Rent: Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1800
  • Type: 5+ Family - 5+ Units Up/Down
  • Foundation Info: Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles, Rubber
  • Flooring Type: Hardwood, Tile, Vinyl
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73592435
  • Last Updated: 10/23/26

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Map

Seller's Representative: Dan Pouladian, North Shore Realty Advisors
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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MLS PIN data last updated at 2026-10-23 03:05:00