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

Local realty services provided by:CENTURY 21 Signature Properties
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:December 10, 2025 at 03:40 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)
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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