• $1,999,000List Price
  • 20Bedrooms
  • 6Bathrooms
  • 0.16Acreage
  • 1915Year Built
  • 7,044Square Feet

NEW PRICE!!! 9.81% CAP RATE | $250K+ GROSS INCOME | $196K+ NOI | 6 UNITS / 20 BEDROOMS! Exceptional opportunity to acquire a strong cash-flowing 6-unit multifamily in desirable Salem. Featuring an attractive unit mix of two spacious 4-bedroom units and four 3-bedroom units, the property generates approximately $250K in gross annual income with an estimated $196K NOI. Additional income from on-site laundry and storage, with further upside through future rent optimization and operational efficiencies. Convenient access to Boston via MBTA Commuter Rail and close to Salem's vibrant downtown, waterfront, restaurants, shopping, and entertainment. Newly repositioned at $1.999M, offering a compelling 9.81% cap rate, strong in-place income, immediate cash flow, and long-term upside potential.

More Info

Basic Information

  • Gross Income $250,476
  • Lot Features Corner Lot
  • Mls StatusNew

Location

  • Address21 Palmer Street
  • Building Number21
  • CountyEssex
  • StateMA
  • StreetPalmer Street
  • TownSalem
  • Zip01970

Utilities

  • Sewer Public Sewer
  • Water Source Public

Amenities

  • Other AmenitiesBasement

Other

  • Date Listed09/10/2026
  • Farm Land Area Units Square Feet

Tax Information

  • Tax Assessed Value $1,412,600
  • Tax Year 2026
  • Taxes$18,974

Basic Information

  • List Price$1,999,000
  • MLS Number73575709
  • Modification Date09/10/2026
  • Property SubType5-9 Family

Property

  • Acreage0.16

Exterior

  • RoofShingle

Property Information

  • Building Area Source Public Records
  • Living Area 7,044
  • Lot Size Square Feet 7,052
  • Lot Size Units Acres
  • Square Feet7,044

Parking

  • Parking Features Deeded
  • Parking Spaces6

Rooms

  • Bathroom6
  • Bathrooms Total Decimal 6
  • Bedrooms20
  • Full Bath6

Building

  • BasementUnfinished
  • Building Area Units Square Feet
  • Construction Materials Frame
  • FoundationConcrete Perimeter
  • Levels 3
  • Patio And Porch Features Porch, Covered
  • Rooms28
  • Stories3
  • Units6
  • Year Built1915
  • Year Built Details Actual
  • Year Built Source Public Records

Map Location

Driving Directions

Listed by Elsa Liu of Realty ONE Group Cosmopolitan

Salem, MA Demographics

There is no data available

Salem, MA Real Estate Market Data

There is no data available

Salem, MA Schools

School NameDistanceTypeGrades

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLSPIN and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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