17-23 Palmer St

Salem, MA 01970
Beds
19
Baths
6
Square Ft.
7,044
$2,399,900
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.Read MoreRead Less
Courtesy of Realty ONE Group Cosmopolitan, Elsa Liu.
Listing Snapshot
Days Online
0
Last Updated
Property Type
5-9 Family
Beds
19
Full Baths
6
Square Ft.
7,044
Lot Size
0.16 Acres
Year Built
1915
MLS Number
73484686
30 Days Snapshot Of 01970
$775k
+32%
(avg) sold price
12
-36%
homes sold
88
-10%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Basement: "Unfinished"
Building
Building Area Total: 7044, Building Area Units: Square Feet, Construction Materials: "Frame", Living Area: 7044, Stories Total: 3, Year Built Source: Public Records, Year Built: 1915, Number Of Units Total: 6
Expenses
Insurance Expense: $5,600
Exterior Features
Patio And Porch Features: "Porch", "Covered"
Foundation
Foundation Details: "Concrete Perimeter"
Income
Gross Income: 248724
Lot
Lot Features: "Corner Lot", Lot Size Acres: 0.16, Lot Size Area: 0.16, Lot Size Square Feet: 7052, Lot Size Units: Acres
Parking
Parking Features: "Deeded", Parking Total: 6
Property
Property Sub Type: 5-9 Family, Zoning: R3
Roof
Roof: "Shingle"
Sewer
Sewer: "Public Sewer"
Taxes
Tax Annual Amount: 16019, Tax Year: 2025
Utilities
Water Source: "Public"
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