A true turnkey investment awaits at 14 Forest Ave in desirable downtown Salem! This meticulously maintained two-family home, encompassing approximately 2380 sq ft of living space, offers an exceptional opportunity with a strong rental history and significant capital improvements already in place. Investors will appreciate the peace of mind provided by slate roof and newer vinyl siding, coupled with the crucial 2023 updates of new forced hot air furnaces and condensers for both units. Unit 1 is currently leased at $2,900 a month featuring the sought-after convenience of in-unit laundry, a new hot water tank (2024), a private side deck, and two parking spaces. Unit 2, recently vacated and poised for new tenancy at an estimated $2,750/month, provides immediate rental potential and includes a private side porch. With a full basement and walk-up attic for extensive storage or living space expansion.  This property is a compelling asset in the robust Salem real estate market.

Property Details

GROSS LIVING AREA 

• 2380 +/- according to public record

EXTERIOR

• Vinyl Siding - 2015
• Slate Roof

STORAGE

• Full basement
• Walk up attic

YEAR BUILT

• Built in 1915 according to public record

PROPERTY TAXES 

• FY2025 assessed value $657,200
• FY2025 taxes $7,453

Individual Unit Specifications

Unit 1:

• Rent: $2,900
• Leased till June 31st
• 3 bedrooms/ 1 bathroom
• Forced Hot Air & A/C
• Furnace and Condenser 2023
• Water tank - 2024
• In-unit laundry
• Outdoor space: side deck
• 2 parking spaces

Unit 2:

• Rent: $2,750
• Lease ended May 31st unit currently vacant
• 3 bedrooms/ 1 bathroom
• Forced Hot Air & A/C
• Furnace and Condenser 2023
• Laundry in basement
• Outdoor space: side deck

More Information:

Travers Peterson

Team Principal

The TEAM - Real Estate Advisors

New Construction Specialist

C: 978.996.3604 | O: 617.588.0108

[email protected]