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 Salem’s vibrant downtown, waterfront, restaurants, and retail. Excellent opportunity for investors seeking stable income with long-term upside potential.
Features
- Basement:
- Unfinished
- Parking:
- Deeded
- Construction:
- Frame
- Sewer:
- Public Sewer
- Water:
- Public
- Disclosure
- Garage Parking
- Lead Paint:
- Unknown
Additional Information
- Market Time:
- 28
- Parking Spaces:
- 6
- Tax Year:
- 2025
- Status:
- Active
- Price Per Sqft:
- $341
- Zoning:
- R3
- No Units:
- 6
- Orig Price:
- $2,399,900
- LEASE:
- Yes
- Waterfront:
- No
- MlsStatus:
- Active
Address Map
- City:
- Salem
- State:
- MA
- County:
- Essex
- Postal Code:
- 01970
- Longitude:
- W71° 6' 30.3''
- Latitude:
- N42° 30' 56.6''
Residential Income
17-23 Palmer St, Salem, Massachusetts
19 Bedrooms
6 Total Bathrooms
7,044 Sqft
$2,399,900
Listing ID #73484686
Basic Details
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Price :
- $2,399,900
- Bedrooms :
- 19
- Rooms :
- 28
- Total Bathrooms :
- 6
- Full Bathrooms :
- 6
- Square Footage :
- 7,044 Sqft
- Year Built :
- 1915
- Lot Area :
- 0.16 Acre
- Listing ID :
- 73484686
Agent info
Robb Enterprises
- Stephen E. Robb
- View website
- 617-212-0251
-
srobb@robbenterprises.com
Contact Agent