Off Market
21 Palmer St, Salem, MA
Salem · MA 01970
- $1,999,000
- Price
- 20
- Beds
- 6
- Baths
- 7044
- Sq. ft.
Overview
Property type:
Multi-Family
Year built:
Built in 1915
Units:
6 Units
Lot size:
7,052 Sq.Ft Lot
Price per square foot:
$284 / Sq.Ft
Parking:
6 Off Street Spaces
About this home
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.
Neighborhood & Transit
21 Palmer St, Salem · MA 01970
Nearby transit
Within 0.5 mile, measured straight-line to the nearest station entrance.
No subway or commuter rail stations within 0.5 mile.
Price Insight
- Days on Market:
- 55 days
- Listing Price:
- $1,999,000
- Price per Sq.Ft:
- $284
- Tax Assessment:
- $1,412,600 in 2026
- Taxes:
- $1,581 / Monthly
Home Facts
Interior Features
- Bedrooms
- 20
- Full Bathrooms
- 6
- Half Bathrooms
- 0
- Living Area
- 7,044 Sq.Ft
- Kitchen
- Unknown
- Primary Bedroom
- Unknown
- Laundry
- Unknown
- Living levels
- Unknown
- Rooms
- Unknown
- Above grade area
- 7044
- Flooring
- Unknown
- Lead paint
- Unknown
Utilities
- Heating Type
- Unknown
- Heating Zone
- Unknown
- Cooling
- Unknown
- Cooling Zones
- Unknown
- Water
- Unknown
- Sewer
- Unknown
- Electric Features
- Unknown
Exterior Features
- Lot Size
- 7,052 Sq.Ft
- Lot Description
- Unknown
- Exterior Features
- Unknown
Parking
- Garage Parking
- 0 Parking Spaces
- Off Street Parking
- 6 Parking Spaces
Construction Details
- Construction Type
- Unknown
- Siding
- Vinyl
- Roof
- Unknown
Green Features
- Electric Vehicle Charger
- Unknown
- Solar Panels
- Unknown
- Green Certified
- Unknown
- Insulation Features
- Unknown
- Energy Features
- Unknown
Listing information
- Listing agent
- Elsa Liu
- Listing office
- Realty ONE Group Cosmopolitan
- MLS PIN #
- 73575709
- Disclosure
- Measurements are approximate. Buyer/Buyer's agent to perform due diligence and verify all listing information. Detailed financials and property information are available upon request. Please email listing agent to obtain the OM.