17-23 Palmer St

Salem, MA, 01970

Multi-Family · MLS #73484686

Price/sqft

$327

Days on market

New today

Year built

1915

Lot size

0.16 ac

7,044 sq ft

Sq Ft

0.16 acres

Lot

1915

Year Built

Taxes: $16,019 (2025)

About this home

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.