288-292 Washington & 5 Porter St Ct, Salem, MA 01970

Local realty services provided by:ERA The Castelo Group
288-292 Washington & 5 Porter St Ct,Salem, MA 01970
$4,500,000
  • 27 Beds
  • 19 Baths
  • 24,126 sq. ft.
  • Multi-family
  • Active
Listed by: francesca little, francesca little
Office: little & co., realtors®
MLS#:73452143
Source:MLSPIN

Price summary

  • Price:$4,500,000
  • Price per sq. ft.:$186.52

About this home

Salem, MA multifamily portfolio: 19 units spanning three buildings at 288–292 Washington Street and 5 Porter Street Court. The package features a balanced mix of twelve (12) one-bedroom units, six (6) two-bedroom units, and one (1) three-bedroom unit. Owner provides heat and hot water to tenants. The 5 Porter St Ct property includes approximately 6–8 off-street parking spaces for added tenant convenience. In-place rents are below current market levels, presenting a clear value-add opportunity to align rents with market and further stabilize operations over time. Set near Downtown Salem, the properties offer immediate access to a thriving year-round market—walkable to restaurants, retail, the waterfront, museums, and the MBTA for easy Boston access. Strong demand drivers and in-town convenience support stable occupancy and long-term rent growth.

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Home facts

  • Year built:1915
  • Listing ID #:73452143
  • Updated:November 14, 2025 at 12:00 PM

Rooms and interior

  • Bedrooms:27
  • Total bathrooms:19
  • Full bathrooms:19
  • Living area:24,126 sq. ft.

Heating and cooling

  • Heating:Oil

Structure and exterior

  • Roof:Rubber
  • Year built:1915
  • Building area:24,126 sq. ft.
  • Lot area:0.26 Acres

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$4,500,000
  • Price per sq. ft.:$186.52
  • Tax amount:$38,616 (2024)
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