21 Palmer St 01970, Salem
$1,999,000
7044 SqFt
Size
20
Bedrooms
6
Bathrooms
73575709
Property Id
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 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.
Address
Residential Income
ResidentialProperty
5-9 Family
Sale
1915
28
20
6
7,044 sqft
7,052 sqft
6
28
20
6
Unfinished
$1,999,000
$1,999,000
$284
$18,974
2026
$1,581
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