$2,399,900
17-23 Palmer St
Salem, MA, 01970
CASH COW! Strong cash-flowing 6-unit multifamily investment opportunity in desirable Salem, MA. The property generates approximately $248,724 in gross annual income and a high NOI, offering an attractive cap rate of approximately 8.5%. Based on typical financing assumptions, projected Year-1 cash flow is approximately $64,000 with a healthy DSCR of about 1.46. The building includes six residential units plus additional income from laundry and storage. Conveniently located near MBTA commuter rail with easy access to Boston and Salem’s vibrant downtown, waterfront, restaurants, and retail. Excellent opportunity for investors seeking stable income with long-term upside potential.
Property Details
Price:
$2,399,900
MLS #:
73484686
Status:
Active
Beds:
19
Baths:
6
Type:
Multi Family
Subtype:
5-9 Family
Listed Date:
Mar 10, 2026
Finished Sq Ft:
7,044
Total Sq Ft:
7,044
Lot Size:
7,052 sqft / 0.16 acres (approx)
Year Built:
1915
Units:
6
Schools
Interior
Above Grade Finished Area
7044
Bathrooms
6 Full Bathrooms
Levels
3
Exterior
Construction Materials
Frame
Lot Features
Corner Lot
Open Parking Spaces
6
Parking Features
Deeded
Parking Spots
6
Parking Total
6
Patio And Porch Features
Porch, Covered
Roof
Shingle
Stories
3
Financial
Tax Year
2025
Taxes
$16,019
Marie Andrews is an award-winning, licensed real estate broker with licenses in Massachusetts and Florida. She has been selling real estate in the greater Boston area for over 20 years. Over the past two decades, Marie has worked for Century 21 Advanced Realty, building a reputation as a multi-million dollar producer. She has developed an extensive network of investors, lenders, and attorneys. Marie has a wide knowledge base on property management, Massachusetts real estate law, and building…
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Map
Current real estate data for Multi Family in Salem as of May 04, 2026
20
Multi Family Listed
152
Avg DOM
325
Avg $ / SqFt
$1,205,785
Avg List Price
Community
- Address17-23 Palmer St Salem MA
- CitySalem
- CountyEssex
- Zip Code01970
Subdivisions in Salem
Similar Listings Nearby
Property Summary
- 17-23 Palmer St Salem MA is a Multi Family for sale in Salem, MA, 01970. It is listed for $2,399,900 To schedule a showing of MLS#73484686 at 17-23 Palmer St in Salem, MA, contact your Pegasus Realty LLC agent at 781-858-3505.
Courtesy of Realty ONE Group Cosmopolitan. 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.
17-23 Palmer St
Salem, MA