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385 387 Salem St

Malden, MA 02148

6 beds
4 baths
6,055 sqft
2,348 sqft lot
$222 per sqft
1900 build
– on site

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.

Listing courtesy of MLSPIN / Tanyeli Ballinger / Leading Edge Real Estate

Last checked: Checking… • Last updated May 13, 2025 •

MLS# 73373885 —

The Building

Year Built:

1900
Year Built Details:

Approximate
Year Built Source:

Public Records
Construction Materials:

Stone
Roof:

Tar/Gravel
Basement:

Walk-Out Access
Foundation Details:

Brick/Mortar
Exterior Features:

Balcony
Levels:

11
Stories Total:

11
Stories:

11
# of Units Total:

5
Building Area Total:

6055
Building Area Units:

Square Feet
Building Area Source:

Public Records

Interior

Rooms Total:

20
Interior Features:

Pantry
Flooring:

Tile
Fireplace:

false

Room Dimensions

Living Area:

6055
Living Area Source:

Public Record

Location

Directions:

On Salem St. near Broadway, on MBTA bus lines, close to Route 1 & 60, prime high-traffic location
Latitude:

42.431006
Longitude:

-71.054548

The Property

Parcel Number:

102 731 104,598359
Property Type:

Residential Income
Property Subtype:

5+ Family - 5+ Units Up/Down
Lot Features:

Corner Lot
Lot Size Units:

Acres
Lot Size Area:

0.05
Lot Size SqFt:

2348
Lot Size Acres:

0.05
Zoning:

NB
Waterview:

No
Waterfront:

false
Farm Land Area Units:

Square Feet
Road Frontage Type:

Public

Listing Agent

Contact info:

Taxes

Tax Year:

2024
Tax Lot:

104
Tax Block:

731
Tax Map Number:

102
Tax Book Number:

31739
Tax Annual Amount:

14854.8
Tax Assessed Value:

1054000

Beds

Bedrooms Total:

6

Baths

Total Baths:

4
Total Baths:

4
Full Baths:

4

The Listing

Home Warranty:

false

Heating & Cooling

Heating:

Electric
Heating:

true
Cooling:

None
Cooling:

false

Utilities

Utilities:

for Gas Range
Electric:

100 Amp Service
Sewer:

Public Sewer
Water Source:

Public

Appliances

Appliances:

None

Schools

Elementary School:

Salemwood
Middle Or Junior School:

Salemwood
High School:

Malden High

The Community

Senior Community:

false
Community Features:

Public Transportation
Spa:

false

Parking

Garage:

false
Open Parking:

true

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
5/13/25 May 13, 2025	Listed / Active	MLSPIN	$1,350,000

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This multifamily located in North Faulkner, Malden, MA 02148 is currently for sale for $1,350,000. 385 387 Salem St is a 6,055 square foot multifamily with 6 beds and 4 baths that has been on Estately for 0 days. 385 387 Salem St is in the North Faulkner neighborhood of Malden and has a WalkScore® of 80, making it very walkable.

Listing Courtesy of: MLSPIN and Leading Edge Real Estate.

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) 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., Estately and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Users may not reproduce or redistribute the data found on this site. The data is for viewing purposes only. All information provided is deemed reliable but is not guaranteed by Estately or MLSPIN and should be independently verified.