Here is a rare investment opportunity located in the historic Salem Commons District. 2 Essex Street (“The Property”) is a highly sought after location within walking distance to Collins Cove, Salem Commons, Pickering Wharf, and the Salem Depot. This 4-story mixed-use property consists of (1) one commercial unit and (5) five recently renovated, residential units. The Property boasts 5,608 rentable square footage and 7,844 total square footage. All the apartments are oversized 1-bedroom units with updated kitchens, bathrooms, flooring, plumbing and electrical. 2 Essex Street offers investors an ideal blue-chip holding to add to their portfolio with a prime location and low vacancy rates with easy access to RT114, RT1A with access to RT128. Tenants are responsible for their own separately metered electric heat. The opportunity to increase rents to market exists with minimal capital.
Sold for $1,400,000
$1,400,000
2 Essex St, Salem, MA 01970
5beds
5,608sqft
5-9 Family
Built in 1860
-- sqft lot
$1,594,700 Zestimate®
$250/sqft
$7,486 Estimated rent
Home value
$1,594,700
$1.47M - $1.77M
$7,486/mo
Zestimate® history
Owner options
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$7,486/mo
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$7,486/mo
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$8,766/mo
Est. payment
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$8,766/mo
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Updated kitchensSalem commons
Zillow last checked:
Listing updated:
Listed by:
Dan Pouladian 617-548-7737,
North Shore Realty Advisors 617-548-7737,
Sara Pouladian 617-910-6646
Bought with:
Dan Pouladian
North Shore Realty Advisors
Source: MLS PIN,MLS#: 73124028
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 6
- Full bathrooms: 5
- 1/2 bathrooms: 1
Features
- Flooring: Hardwood, Vinyl / VCT
- Basement: Full,Unfinished
- Has fireplace: No
Interior area
- Total structure area: 5,608
- Total interior livable area: 5,608 sqft
Property
Parking
- Total spaces: 1
- Parking features: Off Street, Other
- Uncovered spaces: 1
Features
- Has view: Yes
- View description: Water, Bay, Ocean
- Has water view: Yes
- Water view: Bay,Ocean,Water
- Waterfront features: Waterfront, Ocean, Bay, Bay, Ocean, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
Lot
- Size: 2,692 Square Feet
- Features: Corner Lot
Details
- Foundation area: 1480
- Parcel number: M:41 L:0217,2138006
- Zoning: 0
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5-9 Family
Materials
- Frame
- Foundation: Stone
- Roof: Shingle
Condition
- Year built: 1860
Utilities & green energy
- Electric: 220 Volts
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Laundromat, Bike Path, House of Worship, Marina, Public School, T-Station
Location
- Region: Salem
Financial & listing details
- Price per square foot: $250/sqft
- Tax assessed value: $833,100
- Annual tax amount: $10,422
- Date on market: 1/19/2026
- Total actual rent: 10100
Price history
| Date | Event | Price |
|---|---|---|
| 8/31/2023 | Sold | $1,400,000-1.8%$250/sqft |
Source: MLS PIN #73124028 Report a problem | ||
| 6/13/2023 | Listed for sale | $1,425,000+35.7%$254/sqft |
Source: MLS PIN #73124028 Report a problem | ||
| 8/31/2022 | Sold | $1,050,000-12.5%$187/sqft |
Source: MLS PIN #73003787 Report a problem | ||
| 7/12/2022 | Contingent | $1,199,999$214/sqft |
Source: MLS PIN #73003787 Report a problem | ||
| 6/24/2022 | Listed for sale | $1,199,999+942.6%$214/sqft |
Source: MLS PIN #73003787 Report a problem | ||
| 6/20/1994 | Sold | $115,100$21/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $1,217,400 +22.5% |
| 2024 | -- | $994,000 +19.3% |
| 2023 | -- | $833,100 |
| 2022 | -- | $833,100 +5.1% |
| 2021 | -- | $792,700 +8.3% |
| 2020 | -- | $731,800 +1.6% |
| 2019 | -- | $720,500 +12.6% |
| 2018 | -- | $640,100 +5.4% |
| 2017 | -- | $607,400 +3.2% |
| 2016 | -- | $588,800 +1.8% |
| 2015 | -- | $578,600 +18.8% |
| 2011 | -- | $487,100 -5.8% |
| 2010 | -- | $517,200 -1.5% |
| 2009 | -- | $525,300 |
| 2008 | -- | $525,300 +1% |
| 2007 | -- | $519,900 +20.7% |
| 2006 | -- | $430,800 +3.6% |
| 2005 | -- | $415,700 +11.7% |
| 2004 | -- | $372,300 +21% |
| 2003 | -- | $307,700 +4% |
| 2002 | -- | $295,800 +179.8% |
| 1999 | $1,603 +22.8% | $105,700 +2.4% |
| 1994 | $1,305 | $103,200 |
Find assessor info on the county website
Neighborhood: 01970
Nearby homes
- $--1 bd1 ba-- sqft2 Essex St #3L, Salem, MA 01970Off Market
- $--1 bd1 ba-- sqft2 Essex St #2R, Salem, MA 01970Off Market
- $888,8003 bd3 ba2.1k sqft2 1/2 Essex St, Salem, MA 01970Off Market
- $682,8004 bd2 ba1.8k sqft41 Webb St, Salem, MA 01970Off Market
- $660,1004 bd2 ba1.7k sqft4 Essex St, Salem, MA 01970Off Market
- $490,0003 bd1 ba938 sqft3 Essex St #2, Salem, MA 01970Sold
- $377,0003 bd1 ba934 sqft3 Essex St #3, Salem, MA 01970Off Market
- $431,9003 bd1 ba938 sqft3 Essex St #1, Salem, MA 01970Off Market
Nearby schools
GreatSchools rating
- 5/10Carlton Elementary SchoolGrades: K-5Distance: 0.5 mi
- 5/10Saltonstall SchoolGrades: K-8Distance: 0.9 mi
- NASalem Prep High SchoolGrades: 9-12Distance: 0.5 mi
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Estimated market value
$1,594,700
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,594,700
- Massachusetts
- Essex County
- Salem
- 01970
- 2 Essex St
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