MA
Essex
Salem
01970
21 Palmer St
21 Palmer St, Salem, MA 01970
Share Listing
Listing Type
Multi Family
Listing Status
Active
23
$1,999,000

Home Details for 21 Palmer St

Price
$1,999,000
Type
Residential Income
Bedrooms
20
Total Bathrooms
6
Full Bathrooms
6
Square feet
7044
Year built
1915
Lot size acres
0.16
County
Essex
Total rooms
28
Basement
Unfinished
MLS Listing#
73575709
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 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.

Property Features
  • Water Features
    • Public
  • Parking
    • Deeded
  • Basement
    • Unfinished
Listing Courtesy: Realty ONE Group Cosmopolitan - 781-219-3200
Presented by: Elsa Liu
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. 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, leasing or renting 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, leasing or renting. 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, or as to the accuracy of any of the Images, set forth herein. Copyright ©2026 MLS Property Information Network, Inc. All Rights Reserved.
Transportation
Check the walk, transit, and bike score for
Neighborhood Market Statistics
See average values in the proximity of this property
Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from Massachusetts Association of REALTORS.
EXIT PREMIER REAL ESTATE
85 Wilmington Road, Burlington, MA 01803
Office
781 270 4770
Request more details
Code: