7 days on Rocket
$10,000 Closing Credit¹
#73370547, CASTLES UNLIMITED TEAM, Listing Office: eXp Realty
$1,350,000 List price
385-387 Salem St Malden, MA 02148
$10,000
Closing credit¹
6 beds
4 full
6,055 sqft
0.05 acres
$223 / sqft
Multi-Family
Property details
About 385-387 Salem St
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.
Highlights
Home typeMulti Family
HeatingElectric
StatusActive
(New)
(New)
Size6,055 sqft
BasementYes
Lot size0.05 Acres
Year built1900
MLS #73373885
Summary
- Full Bathrooms: 4
- Appliances: None, Range, Refrigerator
- Basement: Yes
- Flooring Type: Tile, Concrete, Hardwood, Carpet, Wood
- Interior: Pantry, Bathroom with Shower Stall, Internet Available - Unknown, Living Room, Dining Room, Kitchen
- Total Bedroom Count: 6
- Exterior: Balcony
- Heating: Electric
- Cooling: None
- List Price: $1,350,000
- Price/SqFt: $222
- Lot: Corner Lot
- Directions: On Salem St. near Broadway, on MBTA bus lines, close to Route 1 & 60, prime high-traffic location
- Year Built: 1900
- Stories: 11
- Living Area: 6,055 SqFt
- Lot Size: 0.05 Acres
- MLS Number: 73373885
- MLS Name: MLS Property Information Network
- Office Name: Leading Edge Real Estate
- Office Phone: (978) 289-5860
- Listing Agent: Tanyeli Ballinger
Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/14/2025, 7:20:27 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$1,350,000
385-387 Salem St
$10,000
closing credit¹
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Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 28, 1999 | Home Sold | $243,000 |
| Mar 15, 1991 | Home Sold | $310,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $1,054,000 | $- |
| 2023 | $950,600 | $- |
| 2022 | $909,200 | $- |
| 2021 | $898,200 | $- |
| 2020 | $854,200 | $- |
| 2019 | $784,200 | $- |
History based on county public records data.
Nearby schools
5
Roberts Elementary School
Public District PK-5
1.7 mi
•35 Court St
5
Webster School
Public District KG-5
1.7 mi
•30 Dartmouth St
7
Lincoln Elementary School
Public District KG-5
1.8 mi
•80 W Wyoming Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $34,196. The majority of Malden, MA residents have income less than $<35k annually. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.
How much money do the neighbors make?
51%
<35k
32%
35k-100k
13%
100k-200k
4%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
70%
Single, No Kids
4%
Single, with Kids
16%
Married, No Kids
10%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
8%
<11 yrs old
3%
12-17 yrs old
49%
18-34 yrs old
29%
35-64 yrs old
11%
65+ yrs old
What do the neighbors do for fun?
Music Concerts
Major League Soccer (MLS)
Art Museums
Where do the neighbors shop?
H&M
Banana Republic
Bloomingdales
Where do the neighbors go to eat?
Chipotle
Jack In The Box
Starbucks
What do the neighbors drive?
Volkswagen
Toyota
Audi
What do the neighbors listen to?
Rhythmic Contemporary Hits
Jazz
News
All data provided by Home Junction and Claritas
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This home is located at 385-387 Salem St in Malden, MA and zip code 02148. This 6,055 square foot home, which was built in 1900, sits on a 0.05 acre lot. Features: 6 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since May 13, 2025 and is currently priced at $1,350,000.
While more than 10 listings in Malden, MA in April 2025 were sold above asking price, there were more than 3 listings sold at asking price, and more than 9 were sold below. Between March and April 2025, Malden, MA real estate market has seen increase in the number of listings by 27.4%. In April 2025, listings were on the market for 23 days. During the same period, the median list price in this real estate market was $710,000.
From Rocket Homes Real Estate and based on county public records data.