Luxury Residential Group: 17-23 Palmer St, Salem, MA

Property Description

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.

offered at

$2,399,900

Status: New
Listing ID: 73484686
Bedrooms: 19
Full Baths: 6
Living Area: 7,044 sqft 654 m² Convert
Lot Size: 7,052 sqft 655 m² Convert
Acres: 0.16

Additional Details

Type: Multi-Family, 5-9 Family

Zip Code: 01970

Levels: 3

Parking

Garage Capacity: 6

Parking: Deeded

Parking Spaces: 6

Rooms and Dimensions

Total Units: 6

Total Floors: 3

Total Rooms: 28

LRG Boston

(617) 233-5800

17-23 Palmer St

Salem, MA