19 Palmer St
$2,099,900
19
Beds
6
Baths
7,044
Sqft
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$2,099,900
19
Beds
6
Baths
7,044
Living Area
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Property Description
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.
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Highlights
- Levels: 3
- Property Class: Residential Income
- Stories: 3
- Year Built: 1915
- Parking Spots: 6
- Property Type: 5-9 Family
- Total Rooms: 28
- Status: Active
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Additional Details
- Basement: Unfinished
- Exclusions: Personal Properties
- Lot Features: Corner Lot
- SqFt Source: Public Record
- Year Built Details: Actual
- Zoning: R3
- Construction: Frame
- Foundation: Concrete Perimeter
- Roof: Shingle
- Total Number of Units: 6
- Year Built Source: Public Records
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Amenities
- Parking Features: Deeded
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $1,412,600
- Taxes: $16,019
- Tax Year: 2025
- Total Rent: $20,223
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Listing information provided courtesy of Realty ONE Group Cosmopolitan.
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