REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,399,900
Est. payment /mo
Active
17-23 Palmer St Salem, MA 01970
19 Beds
6 Baths
7,044 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,044 sqft
Price per Sqft $340
MLS Listing ID 73484686
Bedrooms 19
Full Baths 6
Year Built 1915
Annual Tax Amount $16,019
Tax Year 2025
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type 5-9 Family
Property Description
CASH COW! Strong cash-flowing 6-unit multifamily investment opportunity in desirable Salem, MA. The property generates approximately $248,724 in gross annual income and a high NOI, offering an attractive cap rate of approximately 8.5%. Based on typical financing assumptions, projected Year-1 cash flow is approximately $64,000 with a healthy DSCR of about 1.46. The building includes six residential units plus additional income from laundry and storage. Conveniently located near MBTA commuter rail with easy access to Boston and Salem's vibrant downtown, waterfront, restaurants, and retail. Excellent opportunity for investors seeking stable income with long-term upside potential.
Location
State MA
County Essex
Zoning R3
Direction Located between Lafayette St and Salem St
Rooms
Basement Unfinished
Exterior
Roof Type Shingle
Total Parking Spaces 6
Garage No
Building
Lot Description Corner Lot
Story 3
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Others
Senior Community false
Virtual Tour https://my.matterport.com/show/?m=JxWT8UY4XRv&mls=1
Listed by Realty ONE Group Cosmopolitan
NEARBY SCHOOLS & PROPERTIES
GET MORE INFORMATION