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$2,399,900 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 6 Units
  • 19 Total Beds
  • 0.16 Acres
  • Updated 17 hours ago
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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.

Full Property Details for 17-23 Palmer St

General

  • Price: $2,399,900
  • Taxes: $16,019 (2025)
  • Status: Active
  • Type: Multi-Family
  • MLS ID: 73484686
  • Updated: 3/10/2026
  • Added to Site: 1 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 6
  • Full Bathrooms: 6

Bedrooms

  • Total Bedrooms: 19

Parking

  • Parking Features: Deeded

Location

  • County: Essex

Structural Information

  • Basement: Yes
  • Stories/Levels: 3
  • Square Feet: 7,044
  • Year Built: 1915

Lot Features

  • Lot Size (Acres): 0.16

Financial Considerations

  • Tax Amount: $16,019
  • Tax Year: 2025

Disclosures and Reports

  • Exclusions: Personal Properties
  • Disclosures/Rstr.: Measurements are approximate. Buyer/Buyer's agent to perform due diligence and verify all listing information. Detailed financials and property information are available upon request. Please email listing agent to obtain the OM.

Listed by Realty ONE Group Cosmopolitan, Elsa Liu

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Listing agent

— 17-23 Palmer St —

  • Elsa Liu

    Realty ONE Group Cosmopolitan

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Price & Sales History for 17-23 Palmer St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/10/2026
Listed
$2,399,900
26.31%
MLS
5/17/2024
Sold
$1,900,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 17-23 Palmer St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$16,019
43%
$1,412,600
46%
2024
$11,213
6%
$965,000
14%
2023
$10,620
-1%
$848,900
5%
2022
$10,730
16%
$809,800
20%
2021
$9,290
5%
$673,200
10%
2020
$8,872
7%
$614,000
12%
2019
$8,308
11%
$550,200
14%
2018
$7,452
2%
$484,500
5%
2017
$7,288
1%
$459,500
—
2016
$7,200
15%
$459,500
20%
2015
$6,272
-6%
$382,200
-4%
2014
$6,655
—
$397,800
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by Realty ONE Group Cosmopolitan, Elsa Liu

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17-23 Palmer St, Salem, MA 01970 (MLS# 73484686) is a Multi-Family property with 6 units containing 19 bedrooms and 6 full bathrooms. 17-23 Palmer St is currently listed for $2,399,900 and was received on March 10, 2026. Want to learn more about 17-23 Palmer St? Do you have questions about finding other Multi-Family real estate for sale in Salem? You can browse all Salem real estate or contact a Coldwell Banker agent to request more information.

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