288-292 Washington & 5 Porter St Ct Salem, MA ^$ 4,500,000

288-292 Washington & 5 Porter St Ct

^$ 4,500,000

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288-292 Washington & 5 Porter St Ct

Salem, MA, 01970

^$ 4,500,000

Bedrooms27 Baths19.0 Sq 24,126

Monthly Estimate*

^$ 28,074

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Multi-Family Home for sale in Salem, MA

for $4,500,000 with 27 bedrooms and 19 full baths. This 24,126 square foot home was built in 1915 on a lot size of 0.26.

Salem, MA multifamily portfolio: 19 units spanning three buildings at 288–292 Washington Street and 5 Porter Street Court. The package features a balanced mix of twelve (12) one-bedroom units, six (6) two-bedroom units, and one (1) three-bedroom unit. Owner provides heat and hot water to tenants. The 5 Porter St Ct property includes approximately 6–8 off-street parking spaces for added tenant convenience. In-place rents are below current market levels, presenting a clear value-add opportunity to align rents with market and further stabilize operations over time. Set near Downtown Salem, the properties offer immediate access to a thriving year-round market—walkable to restaurants, retail, the waterfront, museums, and the MBTA for easy Boston access. Strong demand drivers and in-town convenience support stable occupancy and long-term rent growth.

Multi-Family Contingent

Price

^$ 4,500,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 38,616

Style

5+ Family - 5+ Units Up/Down

Lot Size

0.26

Year Built

1915

Town/City

Salem

County/Region

Essex

MLS | Web ID

73452143

List By

Francesca Little

Listing Agent

Little & Co., Realtors®

Broker

Affordability Calculator

$31,292

Per Month

Monthly Principal & Interest: $28,074
Monthly Property Taxes: $3,218
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends

Multi-family listings in Salem, MA

Average List Price ^$1,326,588

Percent of Sale Price 71%

About Salem, MA

44,026 Population

9% Since 2002

^$64,141 Median Income

39.51 Median Age

23% Households with Children

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Trends Information provided by ATTOM Data Solutions.

Neighborhood & Schools

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Pricing History

Date	Price	Price Change	Description
11/6/2025	$4,500,000		Listed Price

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288-292 Washington & 5 Porter St Ct, Salem, MA, 01970 is a Multi-Family Home for sale at $4,500,000 with 24,126 sqft and a lot size of 0.26. 288-292 Washington & 5 Porter St Ct has 27 bedrooms, 19.0 baths, and was built in 1915. The property's zip code is 01970 which is in Salem, MA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Data is updated as of 12/12/2025.

The real estate information and related content displayed on this site is provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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288-292 Washington & 5 Porter St Ct

Multi-Family Home for sale in Salem, MA

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