Boston Luxury Condos and Apartments
355 Boylston St / (617) 233-5800

21 Palmer St

Salem, MA ID #73575709

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21 Palmer St

- Salem, MA ID #73575709

Property Description

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 Salem’s 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.

Additional Details

  • Status: ACT
  • Type: Multi-Family, Multi Family
  • Zip Code: 01970
  • Taxes: 18,974
  • Levels: 3
  • Acres: 0.16

Parking

  • Garage Capacity: 6
  • Parking: Deeded
  • Parking Spaces: 6

Rooms/Dimensions

  • Total Units: 6
  • Total Floors: 3
  • Total Rooms: 28
  • Has Basement: Yes

Location

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21 Palmer St, Salem, MA

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Content © 2026 MLS Property Information Network, Inc.
The information in this listing was gathered from third party resources including the seller and public records. Listing information provided courtesy of Elsa Liu of Realty ONE Group Cosmopolitan. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.