SZ INC.Realty
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For Sale

21 Palmer St, Salem MA 01970

Salem, MA 01970

$2.0M
20 BD · 6 BA · 7,044 sf · 0.16 ac · Built 1915
Request a Private ShowingEnquire by phone · +1 212 920 6260
The residence

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.

At a glance
Property type
5-9 Family
Status
Active
Year built
1915
Lot size
0.16 acres
Living area
7,044 sf
MLS#
fb39b13cc656eaf87c1136abc11cf1f9
Beds · Baths
20 · 6
Location

Salem, MA.

Salem, Massachusetts, is a market our advisors follow closely — its streets, housing stock and setting each shape what a residence here is worth and how it lives day to day. We are glad to walk you through the locale in detail, and how this particular address sits within it.

Estimated Monthly Payment+
$10K/mo
Approximate · principal & interest only
Display Currency
$2.0M

Indicative conversion — settlement always in USD.

Private Showing

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Listing courtesy of Realty ONE Group Cosmopolitan · MLSPIN

MLS Property Information Network.The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords 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.

Listings updated Oct 3, 2026

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