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314 Essex Street

Salem, MA   Offered for sale at $1,895,000
 

Older than the country itself and standing directly beside Salem's iconic Witch House, the Lindall-Gibbs-Osgood House (c.1755) is a singular Salem residence with a proven second life as an owner-occupied bed and breakfast. Extensively restored in 2016 - original floors, fireplaces and centuries-old architectural detail preserved, modern systems and amenities introduced throughout - the 4,670 SF Georgian gambrel accommodates guests on its lower two floors while reserving an entire private level for its owners above.

Guests arrive through a gracious reception foyer flanked by two formal parlors with wood-burning fireplaces - natural common space for breakfast service, wine hours, or small gatherings - and an elegant dining room. The chef's kitchen is the property's quiet advantage: an original 18th-century cooking hearth alongside commercial-scale appliances and a steam wall oven, capable of supporting full breakfast service or catered events. Three spacious en-suite guest bedrooms occupy the second floor, arranged around a generous central landing.

The entire third level is a self-contained owner's retreat - primary suite, spa-like bath, walk-in closet, kitchenette, den, gym and office - giving an owner-operator genuine separation from guests, something very few downtown properties can offer.

Outside, a lush, fenced garden provides an unexpected sense of privacy in the heart of downtown Salem, and two off-street parking spaces - a genuine rarity here. Set within the McIntire Historic District, one of the nation's largest concentrations of pre-1900 architecture, the home is walking distance to Salem's restaurants, museums, shops, waterfront and commuter rail to Boston.

Zoning and use. The property is zoned single-family residential and has been operated by its current owners as an owner-occupied bed and breakfast. It is offered as a distinguished private residence, as a continuing bed and breakfast, or as both - the configuration supports either without compromise.

Performance and upside. In 2022, the owners rented three guest rooms from May - November, generating $91,299 in gross room revenue - roughly $30,000 per room, with the entire third floor held back as private owner's quarters. The owners have since used the house primarily as a private residence. At 4,670 SF across three finished levels, the house has scale beyond what three guest rooms require, and whether additional accommodations could be permitted is a conversation a prospective buyer would want to have directly with the City of Salem.

With more than 270 years of history, remarkable architectural character, and a setting beside one of New England's most recognizable landmarks in a city that draws visitors year-round, 314 Essex Street is a rare opportunity to become the next steward of an irreplaceable piece of Salem history - one that can also earn its keep.

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