INNOVATE
Real Estate
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$4,200,000

8-10 & 5 Porter St Ct & Ropes Portfolio, Salem MA 01970
Salem, MA 01970
Listed by Dan Pouladian
Bedrooms
34
Bathrooms
12
Living area
13,472 sqft
Year built
1915

About this home

5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story, 6-unit buildings with a total square footage of 19,720± and a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages currently generating substantial income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and storage units per apartment for additional income. Investors will hedge any risk with multiple revenue streams within one investment opportunity. The offering is within walking distance of public transportation, restaurants, and many local amenities.

Property details

MLS #
73528048
Property type
5+ Family - 5+ Units Up/Down
Subdivision
N/A
Status
Active
Days on market
N/A
On market date
N/A
Stories
3
Garage spaces
6
Lot size
0.4 acres

Location

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Nearby schools

Within 10 miles · public school directory data (NCES)

Elementary
Saltonstall School
0.25 mi away · Grades 0-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
378
Student:teacher ratio
10.5:1
District
Salem
Middle
Collins Middle
0.6 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
633
Student:teacher ratio
11.1:1
District
Salem
HighCharter
Salem Academy Charter School
0.32 mi away · Grades 6-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
495
Student:teacher ratio
10.3:1
District
Salem Academy Charter (District)

Mortgage calculator

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Est. monthly payment
$25,443/mo
$840,000 down
$3,360,000 loan
Principal & interest$21,793
Property tax (est.)$3,500
Home insurance (est.)$150

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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated June 22, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.