Canceled
102 Days on market
19 Palmer St Salem — Photo 1 of 5

19 Palmer St Salem — Photo 1 of 5

$2,099,900

19 Palmer St, Salem, MA 01970

Salem, MA 01970

Beds

19

Baths

6

SqFt

7,044

Style

5-9 Family

Built

1915

MAJOR PRICE IMPROVEMENT! 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 over $200,000 in NOI. Featuring a rare and highly desirable unit mix of four spacious 4-bedroom, 1-bath units and two generously sized 3-bedroom, 1-bath units, the property benefits from strong rental demand and stable income potential. Additional income is generated through on-site laundry and storage. Conveniently located near the MBTA Commuter Rail with easy access to Boston and Salem's vibrant downtown, waterfront, restaurants, shopping, and entertainment. Excellent opportunity for investors seeking immediate cash flow, strong in-place income, and long-term upside potential.

Immersive Experience

Market Value Analysis

This Property
Size (SqFt) →Price →
This Property$298/sqft
Local Avg (Salem)$354/sqft
16% BelowMarket Average

* Analysis is based on 20 actively listed and recently sold comparable properties strictly within Salem, MA.

Property Details

Financials

Original Price$2,099,900
Annual Taxes$16,019

Parking

Garage0
Off-Street6

Interior Specifications

Total Rooms28
FireplacesNone
Flooring--
BasementUnfinished

Climate & Utilities

Heating--
Cooling--
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningR3

Property & Lot

Acres0.16
SqFt Lot7,052
Lot FeaturesCorner Lot

Geography

Population

44,738

U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)

Median Household Income

$85K

U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)

Renter-Occupied Homes

50.4%

U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)

New Construction Permits — Essex County

1,060 housing units permitted in the last 12 months (-11% vs the prior 12 months) — 603 in 5+ unit buildings

U.S. Census Bureau, Building Permits Survey (through Jul '26)

Listing Provided By

Listing Agent: Elsa Liu

Listing Office: Realty ONE Group Cosmopolitan

MLS® Number: 73535621

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