Description
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.
Details
| MLS # | 73576567 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1915 |
| Days On Site | 60 |
| Listing Provided By | Little & Co., REALTORS® | Francesca Little |
Features
| Bed(s) | 32 |
|---|---|
| Bath(s) | 26 Total |
| SQ Feet | 17,744 |
| Story(s) | 3 |
| Units | 26 |
| Zoning | B1 |
| Acreage | 0.24 |
Interior
| Rooms Total | 62 |
|---|---|
| Fireplaces Total | 0 |
| Fireplace Yes / No | No |
| Flooring | Wood |
Exterior
| Roof | Rubber |
|---|---|
| Construction Materials | Brick |
| Foundation Details | Concrete Perimeter |
| Lot Features | Other |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Taxes
| Tax Annual Amount | 51331 |
|---|---|
| Tax Assessed Value | 4256500 |
| Tax Year | 2026 |
Location
| Community Features | Public Transportation, Park, Medical Facility, Laundromat, House of Worship, Public School, T-Station, University |
|---|---|
| Senior Community Yes / No | No |
Area Information
| State | MA |
|---|---|
| County | Essex |
| City | Salem |
| Zip Code | 01970 |
| Area | Essex |
| Listing VS Median (in 01970) | |
Price: $7,599,000 low | high Med: $479,900 sqft: 17,744 low | high Med: 1,937 $ / sqft: $428 low | high Med: $248 On site: 60 low | high Med: 207 | |
Market Activity 01970
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Learn More About This Property
| State | MA |
|---|---|
| County | Essex |
| City | Salem |
| Zip Code | 01970 |
| Area | Essex |
| Listing VS Median (in 01970) | |
Price: $7,599,000 low | high Med: $479,900 sqft: 17,744 low | high Med: 1,937 $ / sqft: $428 low | high Med: $248 On site: 60 low | high Med: 207 | |
Listing Updated: November 5, 2026 at 7:53:08 AM PST