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385-387 Salem St, Malden, MA 02148

Beds
6
Baths
4
Sqft
6,055

View property features, location on map, relevant school information and overview from seller's agent.

Listed byLeading Edge Real Estate
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Overview

Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.

Location

Full feature list

Basic info

Property type
Multi-family
Number of bedrooms
6
Number of bathrooms
4
Square feet
6,055
Lot size (acres)
0.05
Year built
1900

Interior features

Basement
Yes, Unfinished

Utilities

Heating
Electric
Cooling
None
Sewer
Public sewer
Water
Public

Estimated monthly costs

Insurance
$4,100

Taxes

Tax Annual Amount (2024)
$14,854.80

Public schools

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Sourced from: MLS Property Information Network (MLS PIN) MLS®#: 73373885 Last checked:

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