News: Front Section
Posted: October 4, 2024
Girolamo of Horvath & Tremblay handles
$2.36 million 11-unit rooming house sale
Salem, MA Stephen Girolamo of Horvath & Tremblay has arranged the sale of a rooming house consisting of 11 units located at 2-4 Howard St. Girolamo exclusively represented the seller to close the property at a sale price of $2.36 million and $214,545 per door.
2-4 Howard St. contains 11 residential units comprised of two one-bedroom/one-bathroom units, six studio units, and three two-room studio units with 4,368 s/f of living area in 6,944 s/f of total area on a 0.062-acre parcel. Although licensed as a lodging house, each unit featured it’s own kitchen and bathroom.
The property has undergone extensive renovations to 10 of the 11 units. The renovated units feature hardwood flooring, granite countertops, white shaker cabinets, and stainless-steel appliances in the kitchens. The bathrooms feature tile flooring and walk-in showers. The property also features new coin-operated laundry machines for the tenants to use.
2-4 Howard St. is located near Salem Common in the historic downtown with access to public transportation and retail amenities.
The property is 0.3-miles from the Salem Train & Bus Station, also 1.3-miles from Salem Hospital and 1.5-miles from Salem State University. Salem is located 15 miles along the north shore from Downtown Boston, a major draw for many of the city’s residents.
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