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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.

More Info

Basic Information

  • Gross Income $248,724
  • Lot Features Corner Lot
  • Mls StatusNew

Tax Information

  • Tax Assessed Value $1,412,600
  • Tax Year 2025
  • Taxes$16,019

Parking

  • Parking Features Deeded
  • Parking Spaces6

Rooms

  • Bathroom6
  • Bathrooms Total Decimal 6
  • Bedrooms19
  • Full Bath6

Basic Information

  • List Price$2,099,900
  • MLS Number73535621
  • Modification Date06/13/2026
  • Property SubType5-9 Family
  • Virtual TourView Tour

Location

  • Address19 Palmer Street
  • Building Number19
  • CountyEssex
  • StateMA
  • StreetPalmer Street
  • TownSalem
  • Zip01970

Building

  • BasementUnfinished
  • Building Area Units Square Feet
  • Construction Materials Frame
  • FoundationConcrete Perimeter
  • Levels 3
  • Patio And Porch Features Porch, Covered
  • Rooms28
  • Stories3
  • Units6
  • Year Built1915
  • Year Built Details Actual
  • Year Built Source Public Records

Property

  • Acreage0.16

Exterior

  • RoofShingle

Utilities

  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 7,044
  • Lot Size Square Feet 7,052
  • Lot Size Units Acres
  • Square Feet7,044

Amenities

  • Other AmenitiesBasement

Legal

  • ZoningR3

Other

  • Date Listed06/13/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Elsa Liu of Realty ONE Group Cosmopolitan

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