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INVESTMENT SNAPSHOT
About this property
Fantastic opportunity to own a well-maintained, income producing three-family property in desirable Salem! The Property features spacious units and a versatile layout making it ideal for both owner-occupants and investors looking to generate rental income. The first floor offers four (4) bedrooms spanning two levels while the second floor offers three (3) large bedrooms and two (2) full bathrooms. The vacant third-floor unit features two (2) bedrooms, providing the perfect opportunity for an owner-occupant or an investor looking to secure an additional rental stream. The two occupied units currently generate $7,000 in gross monthly rental income including coin op laundry. Heat and hot water are included in the rents. Four off-street parking spaces add even more convenience and value. With generous living spaces, strong existing rental income, and a vacant unit ready for its next chapter, this is an excellent opportunity to invest in Salem's multifamily market.
Property details
| Units | 3 |
| Living area | 4,420 sqft |
| Lot size | 2,614 sqft |
| Year built | 1890 |
| Price / sqft | $209 |
| County | Essex |
| MLS # | 73594996 |
Listing status
| Days on market | 0 days |
| Listed on | October 26, 2026 |
Taxes & financials
| Annual property tax | $7,797 |
| Tax year | 2025 |
| Assessed value | $717,200 |
| Zoning | R1 |
| Gross income (actual) | $112,500/yr |
| Net operating income (actual) | $89,462/yr |
| Total actual rent | $9,375/mo |
| Electric expense | $1,169/yr |
| Insurance expense | $3,196/yr |
Building & lot
| Stories | 4 |
| Total rooms | 14 |
| Lot size | 0.06 acres |
| Garage spaces | 0 |
| Parking spaces | 4 |
| Parking | Off Street |
| Basement | Full, Finished |
| Foundation | Stone |
| Roof | Shingle |
Utilities & systems
| Heating | Natural Gas |
| Sewer | Public Sewer |
| Water | Public |
Location
More about investing in Salem →
Listing courtesy of a MLS PIN member office. Listing data © MLS PIN.
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Questions & answers
Auto-generated from the listing data — richer AI answers coming with the live site.
How many units does 19 Nichols, Salem MA 01970 have?
It is a 3-unit multi-family property with 4,420 sqft of living area, built in 1890.
How long has 19 Nichols, Salem MA 01970 been on the market?
19 Nichols, Salem MA 01970 has been listed for 0 days (since October 26, 2026).
What is the price per unit?
At a list price of $925,000 across 3 units, that works out to roughly $308,333 per unit.
What are the property taxes on 19 Nichols, Salem MA 01970?
Annual property taxes are $7,797 (2025), on an assessed value of $717,200.
What is the price per square foot?
At $925,000 for 4,420 sqft, that's about $209 per square foot.
Is there parking?
4 total parking spaces (off street).
Where is this property located?
19 Nichols, Salem MA 01970 is in Salem, Essex County, MA 01970.
