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Home Massachusetts Multi-Family Homes for Sale

19 Nichols Salem, MA 01970
Contingent
22
$925,000
Total Beds: 9 Total Baths: 4
Total Units: 3 SQFT: 4420
LOT size: 0.06 Acres
19 Nichols
Salem, MA 01970
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Property Description

Fantastic opportunity to own a well-maintained, income producing three-family property in desirable Salem! The Property features spacious units and a versatile layout making it ideal for both owner-occupants and investors looking to generate rental income. The first floor offers four (4) bedrooms spanning two levels while the second floor offers three (3) large bedrooms and two (2) full bathrooms. The vacant third-floor unit features two (2) bedrooms, providing the perfect opportunity for an owner-occupant or an investor looking to secure an additional rental stream. The two occupied units currently generate $7,000 in gross monthly rental income including coin op laundry. Heat and hot water are included in the rents. Four off-street parking spaces add even more convenience and value. With generous living spaces, strong existing rental income, and a vacant unit ready for its next chapter, this is an excellent opportunity to invest in Salem's multifamily market.
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Property Details

Building Information

  • Total Units: 3
  • Total Floors: 4
  • Total Bedrooms: 9
  • Total Full Baths: 4
  • Amenities: Highway Access, Medical Facility, Park, Public School, Public Transportation, T-Station
  • Basement Features: Finished, Full, Other (See Remarks)
  • Common Heating: Extra Flue, Gas, Heat Pump

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 112500
  • Gross Expenses: 23038
  • Electric Expenses: 1169
  • Water/Sewer: 1719
  • INSC: 3196
  • Repairs & Maintenance: 2055
  • RFS: 965
  • Net Operating Income: 89462

Utilities

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

Unit 1 Description

  • Included in Rent: Heat, Hot Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 2

Unit 2 Description

  • Included in Rent: Heat, Hot Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1890
  • Type: 3 Family
  • Foundation Info: Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: None
  • Warranty: No

Other Information

  • MLS ID# 73594996
  • Last Updated: 10/29/26

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Map

Seller's Representative: Francesca Little, Little & Co., REALTORS®
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 2026-10-29 06:45:00

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