385-387 Salem Street, FaulknerMalden, MA 02148MLS Number 73373885

  • Price: $1,350,000
  • Est. Mortgage of $/month
  • 40 Days on Market
Print
$
$
%
$/month over payments
Federal 30-year interest rate: 6.81% last updated on Jun 18, 2025
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
Under Agreement
385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148385-387 Salem Street Malden MA 02148
QR Code
  • 6Bedrooms
  • 4Bathrooms
Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space-presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.
Listed by Tanyeli Ballinger of Leading Edge Real Estate

Driving Directions

Colonial Manor Realty

Your Local Office

More Info »
Colonial Manor Realty
Office: (781) 944-6300
127 Franklin Street
Reading, MA 01867

Ask A Question

Do not fill in this field:

I agree to receive marketing and customer service calls and text messages from Colonial Manor Realty. To opt out, you can reply 'stop' at any time or click the unsubscribe link in the emails. Consent is not a condition of purchase. Msg/data rates may apply. Msg frequency varies. Privacy Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

More Info

Basic Information

  • Contingency Pending P&S
  • Gross Income $43,200
  • Lot Features Corner Lot
  • Mls StatusUnder Agreement
  • Parcel Number 102 731 104,598359
  • Rent Includes Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)

Location

  • Address385-387 Salem Street
  • Building Number385-387
  • CountyMiddlesex
  • NeighborhoodFaulkner
  • StateMA
  • StreetSalem Street
  • SubdivisionFaulkner
  • TownMalden
  • Zip02148

Exterior

  • Exterior Features Balcony
  • RoofTar/Gravel

Utilities

  • Electric 100 Amp Service
  • Heat SystemYes
  • Heating Electric
  • Sewer Public Sewer
  • Water Source Public

Legal

  • ZoningNB

Tax Information

  • Tax Assessed Value $1,054,000
  • Tax Year 2024
  • Taxes$14,854

Parking

  • Open Parking YN Yes
  • Parking Spaces

Basic Information

  • List Price$1,350,000
  • MLS Number73373885
  • Modification Date06/21/2025
  • Property SubType5+ Family - 5+ Units Up/Down
  • Purchase Contract Date06/05/2025

Property

  • Acreage0.05

Interior

  • Flooring Tile, Concrete, Hardwood, Carpet, Wood
  • Interior Features
    • Bathroom with Shower Stall
    • Dining Room
    • Internet Available - Unknown
    • Kitchen
    • Living Room
    • Pantry

Property Information

  • Building Area Source Public Records
  • Living Area 6,055
  • Lot Size Square Feet 2,348
  • Lot Size Units Acres
  • Square Feet6,055

Other

  • Date Listed05/13/2025
  • Farm Land Area Units Square Feet
  • View Count2

School Information

  • Elementary SchoolSalemwood
  • High SchoolMalden
  • High School Malden High
  • Junior HighSalemwood

Rooms

  • Bathroom4
  • Bathrooms Total Decimal 4
  • Bedrooms6
  • Full Bath4

Building

  • BasementWalk-Out Access, Concrete, Unfinished
  • Building Area Units Square Feet
  • Construction Materials Stone
  • FoundationBrick/Mortar
  • Levels 3
  • Rooms20
  • Stories3
  • Units5
  • Utilities For Gas Range, For Electric Range
  • Year Built1900
  • Year Built Details Approximate
  • Year Built Source Public Records

Amenities

  • Amenities
    • Highway Access
    • Public School
    • Public Transportation
    • Shopping
    • Sidewalks
    • T-Station
  • Appliances IncludedRange, Refrigerator
  • Other AmenitiesBasement

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. 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. MLSPIN 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.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

I agree to receive marketing and customer service calls and text messages from Colonial Manor Realty. To opt out, you can reply 'stop' at any time or click the unsubscribe link in the emails. Consent is not a condition of purchase. Msg/data rates may apply. Msg frequency varies. Privacy Policy.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

$

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.