Description
Price Correction -- RARE OPPORTUNITY TO OWN THIS MULTI-FAMILY INVESTMENT PROPERTY within historic downtown Salem. Combination of 5 rental units: 1 large commercial space ($1,700/mo), 1-two bedroom unit ($875/mo), 2-one bedroom units ($780/mo each), and an additional commercial unit ($500/mo)! Open your own business and have rental income that makes your payment.... add to your current portfolio....use this to start your own investment portfolio....live in one unit while running a business and still having income to make your mortgage....so many possibilities that you can't go wrong. These units are nice and have been well-maintained. MAIN LEVEL BEING KEPT VACANT FOR YOUR NEW BUSINESS --- all other units RENTED. All city utilities.
Details
| MLS # | 2026010208 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1940 |
| Days On Site | 72 |
| Listing Provided By | The Day Company REALTORS | Lori J. Gilstrap |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 6 Total |
| SQ Feet | 11,556 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | Central Business District |
| Acreage | 0.12 |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 3079 |
|---|
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | IN |
|---|---|
| County | Washington |
| City | Salem |
| Zip Code | 47167 |
| Listing VS Median (in 47167) | |
Price: $299,000 low | high Med: $224,950 sqft: 11,556 low | high Med: 1,569 $ / sqft: $26 low | high Med: $190 On site: 72 low | high Med: 23 | |
Market Activity 47167
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Learn More About This Property
| State | IN |
|---|---|
| County | Washington |
| City | Salem |
| Zip Code | 47167 |
| Listing VS Median (in 47167) | |
Price: $299,000 low | high Med: $224,950 sqft: 11,556 low | high Med: 1,569 $ / sqft: $26 low | high Med: $190 On site: 72 low | high Med: 23 | |
Listing Updated: August 5, 2026 at 8:44:16 AM PDT
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© 2026 Coldwell Banker McMahan. All Rights Reserved. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker McMahan fully supports the principles of the Fair Housing Act and Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchises are not provided by, affiliated with or related to Coldwell Banker Real Estate LLC nor any of its affiliated companies.
© 2026 Coldwell Banker McMahan. All Rights Reserved. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker McMahan fully supports the principles of the Fair Housing Act and Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchises are not provided by, affiliated with or related to Coldwell Banker Real Estate LLC nor any of its affiliated companies.
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