233 Lafayette
Salem, MA 01970
$7,699,000
Rare opportunity to acquire a fully renovated 26-unit brick asset in one of Salem’s most active rental markets. The Property consists of twelve (12) one-bedroom units, six (6) two-bedroom units and eight (8) studios. 233 Lafayette Street offers investors immediate scale, strong in-place income, and a true turnkey profile with major capital improvements already executed. The property has undergone an extensive renovation in 2020, including a new roof, fully upgraded electrical, new boilers and hot water storage and a new sprinkler system. Unit interiors have been upgraded across the board with updated kitchens and baths with 15 of the units featuring in-unit laundry. See attached OM for detailed financials.
| Listing ID: | 73576567 |
|---|---|
| List Price: | $7,699,000 |
| Property Type: | Residential Income |
| Property Sub Type: | 5+ Family - 5+ Units Up/Down |
| Status: | Active |
| Bedrooms Total: | 32 |
| Bathrooms Full: | 26 |
| Living Area: | 17,744 |
| Tax Annual Amount: | $51,331 |
| Lot Size Square Feet: | 10,359 |
| Lot Size Acres: | 0.24 |
| City: | Salem |
| County Or Parish: | Essex |
| Postal Code: | 01970 |
| Year Built: | 1915 |
| Number Of Units Total: | 26 |
| Flooring: | Wood |
| Lot Features: | Other |
| Status: | Active |
| State Or Province: | MA |
| Water Source: | Public |
| Roof: | Rubber |
| Foundation Details: | Concrete Perimeter |
| Construction Materials: | Brick |
| Listing Contract Date: | 2026-09-14 |
| Lot Size Area: | 0.24 |
| Rooms Total: | 62 |
| Bathrooms Total Integer: | 26 |
| Basement: | false |
| Building Area Source: | Public Records |
| Community Features: | Public Transportation, Park, Medical Facility, Laundromat, House of Worship, Public School, T-Station, University |
| Levels: | 3 |
| Living Area Units: | Square Feet |
| Lot Size Units: | Acres |
| Parcel Number: | 2135113 |
| Sewer: | Public Sewer |
| Zoning: | B1 |
| Stories Total: | 3 |
| Year Built Source: | Public Records |
| Farm Land Area Units: | Square Feet |
| Financial Data Source: | Owner |
| Gross Income: | $695,220 |
| Apod Available: | No |
| Disclosure: | No |
| Dpr Flag: | No |
| Flrs 1: | 1 |
| Flrs 2: | 1 |
| Gre: | 180,574 |
| Lead Paint: | Unknown |
| Lease 1: | Yes |
| Lease 2: | Yes |
| Levels 1: | 1 |
| Levels 2: | 1 |
| Listing Alert: | No |
| List Price Per Sqft: | $433.89 |
| Page: | 240 |
| Price Per Sqft: | $433.89 |
| Square Feet Incl Base: | Yes |
| Net Operating Income: | $481,143 |
| Operating Expense: | $180,574 |
| Original List Price: | $7,699,000 |
| Tax Assessed Value: | $4,256,500 |
| Tax Year: | 2026 |
| Total Actual Rent: | $32,767 |
| Year Built Details: | Approximate |
| Building Area Total: | 17,744 |
| Bedrms 1: | 2 |
| Bedrms 2: | 1 |
| F Bths 1: | 1 |
| F Bths 2: | 1 |
| Hot Water: | Natural Gas |
| Above Grade Finished Area: | 15,889 |
| Below Grade Finished Area: | 1,855 |
| Open Parking Spaces: | 0 |
| Living Area Source: | Public Record |
| Rent1: | 2,595 |
| Rent2: | 2,500 |
| Total Flrs: | 2 |
| Beachfront Flag: | No |
Listing Courtesy of: Little & Co., REALTORS®
Listing Agent: Francesca Little
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MLS Property Information Network, Inc. data last updated on October 08, 2026 04:59 PM - ET
Property Last Updated: October 08, 2026 04:59 PM - ET
