BEDS19
BATHS6 full
SQUARE FEET7,044
MLS#73484686
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
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 Salems vibrant downtown, waterfront, restaurants, and retail. Excellent opportunity for investors seeking stable income with long-term upside potential.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Unfinished
Lot Size: 0.16 Acres
Roof Type: Shingle
Stories: 3.0
Taxes: $16,019
Year Built: 1915
Feature Descriptions
Building Area Total: 7044
Compensation Based On: N/A
Compensation Broker Transaction: N/A
Compensation Buyer Agency: N/A
Compensation Sub Agency: N/A
Compensation Sub Agency Offered: N/A
Days on Site: 43
Dwelling Type: 5-9 Family
Exclusions: Personal Properties
Exterior: Frame
Lot Features: Corner Lot
Parking Features: Deeded
Parking Total: 6
Patio And Porch: Porch, Covered
Rooms Total: 28
Sewer: Public Sewer
Units: 6
Water: Public
Listed By / Shown By
Listed By
Agency Name: Realty ONE Group Cosmopolitan
Agency Phone: 781-219-3200
Agent Name: The Liu Group
Shown By
Agency Title: Better Homes and Gardens Real Estate The Masiello Group
Agency Phone: 800-741-1540
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Estimated Payment
$ 7,376.02 per month $5,341.14 Principal & Interest $1,334.92 Property Tax $699.97 Homeowner's Insurance
17-23 Palmer St | MLS# 73484686
This multi-family property located at 17-23 Palmer St, Salem, MA 01970 is currently listed for sale with an asking price of $2,399,900. Search Salem real estate on www.masiellogrouprealestate.com today.