MA > Malden
Malden, MA 02148,385-387 Salem St
Malden, MA 02148,385-387 Salem St
Malden, MA 02148,385-387 Salem St
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$1,350,000
Est. payment /mo
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6 Beds
4 Baths
6,055 SqFt
New

385-387 Salem St Malden, MA 02148

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Skylimit Real Estate

Skylimit Real Estate

+1(857) 477-7033

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Key Details

Property Type Multi-Family

Sub Type 5+ Family - 5+ Units Up/Down

Listing Status Active

Purchase Type For Sale

Square Footage 6,055 sqft

Price per Sqft $222

MLS Listing ID 73373885

Bedrooms 6

Full Baths 4

Year Built 1900

Annual Tax Amount $14,854

Tax Year 2024

Lot Size 2,178 Sqft

Acres 0.05

Property Sub-Type 5+ Family - 5+ Units Up/Down

Property Description

Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors.

Location

State MA

County Middlesex

Area Faulkner

Zoning NB

Direction On Salem St. near Broadway, on MBTA bus lines, close to Route 1 & 60, prime high-traffic location

Rooms

Basement Walk-Out Access, Concrete, Unfinished

Interior

Interior Features Pantry, Bathroom with Shower Stall, Internet Available - Unknown, Living Room, Dining Room, Kitchen

Heating Electric

Cooling None

Flooring Tile, Concrete, Hardwood, Carpet, Wood

Appliance None, Range, Refrigerator

Exterior

Exterior Feature Balcony

Community Features Public Transportation, Shopping, Highway Access, Public School, T-Station, Sidewalks

Utilities Available for Gas Range, for Electric Range

Roof Type Tar/Gravel

Garage No

Building

Lot Description Corner Lot

Story 11

Foundation Brick/Mortar

Sewer Public Sewer

Water Public

Schools

Elementary Schools Salemwood

Middle Schools Salemwood

High Schools Malden High

Others

Senior Community false

Listed by Leading Edge Real Estate

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Skylimit Real Estate

Broker | License ID: 424202

+1(857) 477-7033

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385-387 Salem St