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.
- 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