17-23 Palmer St, Salem, MA 01970
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17-23 Palmer St, Salem, MA 01970,Video Tour
17-23 Palmer St, Salem, MA 01970
17-23 Palmer St, Salem, MA 01970
17-23 Palmer St, Salem, MA 01970
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John J. Dean Jr.

John J. Dean Jr.

+1(617) 553-1926
$ 2,299,900
Est. payment /mo
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Price Dropped by $100K

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 $326

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

John J. Dean Jr.

John J. Dean Jr.

Real Estate Advisor | License ID: 9512783

+1(617) 553-1926

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17-23 Palmer St

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