21 Palmer St

Salem, MA, 01970

Multi-Family · MLS #73575709

Price/sqft

$284

Days on market

2 days

Year built

1915

Lot size

0.16 ac

6 full

Baths

7,044 sq ft

Sq Ft

0.16 acres

Lot

1915

Year Built

Taxes: $18,974 (2026)

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 Salems 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.