Jessica Crowley
REALTOR®
BEDS20
BATHS6 full
SQUARE FEET7,044
MLS#73575709
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
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 Salems 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.
Property Features
Property Type: Multi Unit - Multiple
Basement: Unfinished
Basement: Yes
Lot Size: 0.16 Acres
Roof Type: Shingle
Stories: 3.0
Taxes: $18,974
Year Built: 1915
Feature Descriptions
Building Area Total: 7044
Compensation Based On: N/A
Compensation Broker Transaction: N/A
Compensation Buyer Agency: N/A
Compensation Sub Agency: N/A
Compensation Sub Agency Offered: N/A
Dwelling Type: 5-9 Family
Exclusions: Personal Properties
Exterior: Frame
Lot Features: Corner Lot
Parking Features: Deeded
Parking Total: 6
Patio And Porch: Porch, Covered
Rooms Total: 28
Sewer: Public Sewer
Units: 6
Water: Public
Listed By / Shown By
Listed By
Agency Name: Realty ONE Group Cosmopolitan
Agent Name: Elsa Liu
Agency Phone: 781-219-3200
Shown By
Agent Name: Jessica Crowley
Agent Phone:
Agency Title: Better Homes and Gardens Real Estate The Masiello Group
TOUR THIS HOME
Choose a date and time to see 21 Palmer St, Salem, MA 01970.
I will get in touch with you shortly.
Estimate Your Payment
Estimated Payment
$ 6,613.12 per month $4,448.91 Principal & Interest $1,581.17 Property Tax $583.04 Homeowner's Insurance
21 Palmer St | MLS# 73575709
This multi-family property located at 21 Palmer St, Salem, MA 01970 is currently listed for sale with an asking price of $1,999,000. Search Salem real estate on jessicacrowley.masiellogrouprealestate.com today.