About this home
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.
Listing last checked: Listing updated:
Listed by Francesca Little · Little & Co., REALTORS® · MLS #73576567
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Details at a glance
Interior3 property facts
- Rooms
- 62
- Flooring
- Wood
- Basement
- Not reported
Building4 property facts
- Style
- 5+ Family - 5+ Units Up/Down
- Year built
- 1915
- Foundation
- Concrete Perimeter
- Roof
- Rubber
Land & utilities5 property facts
- Lot size
- 0.24 acres
- Water
- Public
- Sewer
- Public Sewer
- Pool
- Not reported
- Zoning
- B1
Financial2 property facts
- Annual taxes
- $51,331
- Assessment year
- 2026
Location
Estimated monthly cost
Explore costs at the $7,599,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$42,702 / monthAdjust
- Principal & interest
- $38,425
- Property tax
- $4,278
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $51,331. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
Price and status timeline
- New
$2,550 · May 15, 2026
- Exp
$7,995,000 · Apr 1, 2026
More property insights
Automated value estimate $6,651,738
Estimated range $4,414,623–$8,888,852.
Automated estimates are not appraisals or guarantees of market value.
Request a professional market analysisPhoto-based condition insights
Overall presentation: above average
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About 233 Lafayette
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Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.
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