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17-23 Palmer StSalem, MA 01970

For Sale

$2,399,900

Smart Buyer Rebate $12,000

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.

Listed by Elsa Liu

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Realty ONE Group Cosmopolitan

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508-276-6723

Last updated March 14, 2026

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Source: MLSPin #73484686

Listing Facts

  • TypeMulti-family
  • NeighborhoodSouth Salem
  • Bedrooms19
  • Bathrooms6
  • Days on Prevu5
  • Taxes$16,019/year
  • Size7,044 sqft
  • Price per sqft$341

Amenities

  • Private Outdoor Space
  • Parking

Location

Mortgage Calculator

Listing History

03/10/2026
Listed by Realty ONE Group Cosmopolitan
$2,399,900

Property Details for 17-23 Palmer St

Exterior

Construction

  • Number Of Units Total: 6
  • Roof: Shingle
  • Stories: 3
  • Stories Total: 3
  • Year Built: 1915
  • Year Built Details: Actual
  • Construction Materials: Frame

Features

  • Patio And Porch Features: Porch, Covered

Measurements

  • Building Area Total: 7,044
  • Building Area Units: Square Feet
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.16
  • Lot Size Area: 0
  • Lot Size Square Feet: 7,052
  • Lot Size Units: Acres

Financial

Residential Income

  • Gross Income: $248,724.00
  • Operating Expense: $31,887.00

Taxes

  • Tax Annual Amount: $16,019.00
  • Tax Assessed Value: $1,412,600.00
  • Tax Year: 2025

Interior

Measurements

  • Living Area: 7,044
  • Living Area Source: Public Record

Rooms

  • Basement: Unfinished
  • Bathrooms Full: 6
  • Bathrooms Total Integer: 6
  • Bedrooms Total: 19
  • Rooms Total: 28

Other

General

  • Exclusions: Personal Properties

Parking

Parking

  • Open Parking Spaces: 6
  • Parking Features: Deeded
  • Parking Total: 6

Utilities

Equipment

  • Sewer: Public Sewer
  • Water Source: Public

Frequently Asked Questions

How many bedrooms and bathrooms does this multi-family home have?

There are 19 bedrooms and 6 bathrooms in this multi-family home at 17-23 Palmer St.

Does this multi-family home have parking?

Yes, there are 6 parking spaces available for 17-23 Palmer St.

What are the annual taxes for 17-23 Palmer St?

Annual taxes for this multi-family home are estimated at $16,019.

How does 17-23 Palmer St compare to other multi-family homes in South Salem?

This multi-family home is listed 23% above the average price for multi-family homes in South Salem and has been on the market for 14 less days than the typical home in this area.

What is the square footage on this multi-family home?

According to the MLS, this listing is 7,044 sqft.

17-23 Palmer St is a 19-bedroom, 6-bath multi-family home for sale in Salem MA 01970. Listed on Prevu for 5 days at $2,399,900. This residence features 7,044 square feet of living space, located in South Salem. The median listing price for multi-family homes in this area is $594,950. The home offers private outdoor space and parking. Explore more multi-family home listings in Salem.

The property listing data and information, or the Images, 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, and the Images, are for the personal, non commercial use of consumers having a good faith interest in purchasing, leasing or renting 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, leasing or renting. 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, or as to the accuracy of any of the Images, set forth herein.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.