Grove Street Apartments

Salem, MA

For Sale
 

Type: Land, Multi-Family
Property Details: Total Land Area: 8.3 acres
Net Rentable Area: 125,462 SF
Fully-Approved for:
# of Buildings: 3
# of Units: 129
Parking: 204 spaces (99 garage)

Brochure

Execute CA

 

Multi-Family Development Site

Grove Street Apartments present a rarely-available investment opportunity in Salem, Massachusetts. The 8.3-acre development site is fully-permitted for the construction of three (3) buildings consisting of 129 mixed-income units and 204 parking spaces including 99 garaged spaces. Just 19 miles north of Boston, Grove Street is situated in one of the North Shore’s most vibrant and historically significant communities.

Investment Highlights:

  • Transit-Oriented Location
    Less than 1 mile from the Salem/Peabody MBTA Commuter Rail
  • Strong Rental Market Dynamics
    Due to the limited availability of land and high barriers of entry, only 142 new units have come to market on the North Shore in the past two years according to REIS.
  • Strong Demographics
    Salem has emerged as a premier community on the North Shore for young professionals seeking value without sacrificing amenities and access. The Grove Street Apartments would offer a quality housing alternative to purchasing a single-family home.

For more information please visit GroveSalem.com 

Location & Information

Grove_web5
 

Type: Land, Multi-Family
Property Details: Total Land Area: 8.3 acres
Net Rentable Area: 125,462 SF
Fully-Approved for:
# of Buildings: 3
# of Units: 129
Parking: 204 spaces (99 garage)

Brochure

Execute CA