3 S Shore Road

Salem, NH 03079

An exciting investment opportunity with you. Located just minutes from I-93 Exit 2 in a low-density single-family neighborhood, this well-maintained 9-unit apartment building sits on a spacious 1.8-acre lot and is connected to city sewer. The property boasts a large and inviting backyard, ample paved parking, and extra land, all within a short walk of Canobie Lake, which offers seasonal views from the third floor. The building is currently occupied and stabilized, presenting an immediate income stream. Six of the apartments have been recently and completely renovated, featuring modern kitchens with granite countertops and stainless steel appliances, updated bathrooms, refinished or new hardwood flooring, energy-efficient LED lighting, and new decks, sliding doors, and windows. Each unit is separately metered for heat and electricity and the property currently yields a strong 8% capitalization rate. The property also features a large U-shaped driveway providing ease of access and plenty of parking for tenants. Unit 9 is a particularly attractive freshly renovated two-bedroom townhome-style unit with sliding doors leading to a private rear deck, along with a new kitchen, bathroom, appliances, and refinished wood flooring. Please note that the principals of the selling entity are licensed real estate agents.

Listing courtesy of Steve Cotran of RE/MAX Area Real Estate Network LTD



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Last checked: 2025-06-07 11:14 PM UTC