$565,000
Salem, VA 24153
MLS# 927845
1 / 90
Property Description
''Some of the best investments do more than build wealth. They create flexibility for the people you love.'' 324 Pennsylvania Avenue offers a rare opportunity to combine financial flexibility with real life functionality in one of Salem's most sought after neighborhoods. Whether you're looking to offset expenses with supplemental income, create separate living space for extended family, accommodate changing household needs, or invest in a property that can adapt as life evolves, this setup delivers possibilities that are difficult to find in today's market. The beautifully updated main residence provides comfortable everyday living filled with timeless character and over $100,000 in thoughtful improvements, while the grandfathered detached carriage house/ADU creates additional flexibilit
Details
Maps
General Property Description
Multi-Family Type: Other - See Remarks
Construction Status: Completed
Total Acreage: 0.19
# Furnished: 0
# Unfurnished: 2
# Leased Units: 0
Gross Bldg SQFT: 1855
Basement Y/N: Yes
Water Class: N/A
Parking Description: On Street
Gross Income: 0
Year Built: 1902
Number of Units: 2
Location, Tax & Legal
Major Area: 03 - City of Salem
Phase: 0
Lot: 19 & 20
Block: 0
Tax ID: 120-7-4
Annual Taxes: 2107
Section: 48
POA Y/N: No
Area: 0300 - City of Salem
Street Number: 324
Street Name: Pennsylvania
Street Suffix: AVE
State/Province: VA
Zip Code: 24153
Subdivision: N/A
Municipality: City of Salem
Elementary School: G. W. Carver
Middle School: Andrew Lewis
High School: Salem High
Remarks & Misc
Directions: From Main St Salem heading west turn left on College Ave and Left on Pennsylvania. Home on right. There is parking off the alley in the back also.
Limited Service
Not Limited Service: 1
Construction
Aluminum: 1
Wood: 1
Basement
Dirt Floor: 1
Partial: 1
Heating
Heat Pump Electric: 1
Radiator Gas Heat: 1
Cooling
Central Air: 1
Heat Pump Electric: 1
Fireplace
Masonry: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Owner Expenses
Other - See Remarks: 1
Tenant Expenses
Other - See Remarks: 1
Contract Information
Current Price: $565,000
List Price: $565,000
List Date: 2026-05-22
Status: Active
Property Features
Limited Service: Not Limited Service
Construction: Aluminum; Wood
Basement: Dirt Floor; Partial
Heating: Heat Pump Electric; Radiator Gas Heat
Cooling: Central Air; Heat Pump Electric
Fireplace: Masonry
Water Description: Public
Sewer Description: Public Sewer
Owner Expenses: Other - See Remarks
Tenant Expenses: Other - See Remarks
Supplements
for independent living, guests, remote work, or furnished rental potential. Complete with dedicated parking, private yard space, and situated on a rare double lot, the property offers the kind of long term versatility buyers and investors are actively searching for.
Previously utilized as successful furnished mid term rentals with consistent demand, this is more than just a multifamily opportunity. It's a property designed to work for you financially while still feeling like home.
SELLER OFFERING $5,000 IN CONCESSIONS TO HELP BUY DOWN YOUR INTEREST RATE OR LOWER CLOSING COSTS.
Listing Office: LAZARO REAL ESTATE
Last Updated: May - 22 - 2026
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