18 Peabody Street, Salem MA 01970

About this home

Attention Investors take a look at this rare opportunity located at 18 Peabody Street in downtown Salem. This oversized brick 3-story residential building boasts a total square footage of 4,312 with a rentable square footage of 3,234. The property consists of three (3) Three-bedroom stacked units. All units are separately metered for both gas heat, forced air and electrical. This opportunity includes $180,000 in State Historic Tax Credit awards as well as Federal Historic Tax Credits equal to 20% of the renovation costs. The tax credits directly correlate with final renovation costs and required compliance with Massachusetts Historic design standards. 18 Peabody Street is ideally located in downtown Salem and in close proximity to Lafayette Street and Derby Street which is the main corridor for downtown. The property will be delivered vacant making this an ideal situation for a developer/investor to commence work immediately.