HomeEileen JonahListingsAreasSoldServicesContact

21 Palmer St 01970, Salem

$1,999,000

For Sale

7044 SqFt

Size

20

Bedrooms

6

Bathrooms

73575709

Property Id

Property image 1
1 / 23

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

Address21 Palmer St 01970 Salem, MA
CountryUS
Property Type

Residential Income

Property Class

ResidentialProperty

Style

5-9 Family

Transaction Type

Sale

Year Built

1915

Total Rooms

28

Bedrooms

20

Bathrooms (Full)

6

Square Feet

7,044 sqft

Lot Size

7,052 sqft

Parking

6

Total Rooms

28

Bedrooms

20

Full Bathrooms

6

Basement

Unfinished

List Price

$1,999,000

Original Price

$1,999,000

Price per Sqft

$284

Annual Property Taxes

$18,974

Tax Assessment Year

2026

Monthly Tax Estimate

$1,581

MLS Pin© 2026 MLS Property Information Network, Inc. (MLSPIN). The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. This information was last updated on Thursday, September 10, 2026. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed. Please contact Elsa Liu directly for additional information pertaining to the status and availability of properties displayed on this website.