17-23 Palmer St
Salem, MA, 01970
$2,399,900
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.
Current real estate data for Multi Family in Salem as of Mar 20, 2026
13
Multi Family Listed
206
Avg DOM
345
Avg $ / SqFt
$1,217,892
Avg List Price
Property Details
Price:
$2,399,900
MLS #:
73484686
Status:
Active
Beds:
19
Baths:
6
Type:
Multi Family
Subtype:
5-9 Family
Listed Date:
Mar 10, 2026
Finished Sq Ft:
7,044
Total Sq Ft:
7,044
Lot Size:
7,052 sqft / 0.16 acres (approx)
Year Built:
1915
Units:
6
Schools
Interior
Bathrooms
6 Full Bathrooms
Exterior
Construction Materials
Frame
Parking Features
Deeded
Parking Spots
6
Roof
Shingle
Financial
Tax Year
2025
Taxes
$16,019
Map
Contact Us
Mortgage Calculator
Community
- Address17-23 Palmer St Salem MA
- CitySalem
- CountyEssex
- Zip Code01970
Subdivisions in Salem
Property Summary
- 17-23 Palmer St Salem MA is a Multi Family for sale in Salem, MA, 01970. It is listed for $2,399,900 To schedule a showing of MLS#73484686 at 17-23 Palmer St in Salem, MA, contact your Boardwalk Real Estate Corp. agent at 781-944-7820.
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CRP: Certified Relocation Professional CRS: Certified Residential Specialist GRI: Graduate of Realtors Institute CBR: Certified Buyers Representative BSBA: Bachelor of Science in Business Administration. Babson College 1979 MBA: Master of Business Administration. Babson College 2002 James M. Joly is President and Principal-Owner of Boardwalk Real Estate Corp.,…
More About JamesCourtesy of Realty ONE Group Cosmopolitan. The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
17-23 Palmer St
Salem, MA












































