Sold!
$2,175,000
22
Beds
10
Baths
11,768
Living Area
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Property Description
Rare investment opportunity in Salem. This oversized ten (10) unit 4-story red brick building boasts an ideal unit-mix of four (4) one-bedroom, six (6) three-bedrooms with nine (9) surface parking spots and is a total of 14,872 ± SF. All units feature open floor plans with lots of natural light, Salem Harbor views, large rooms, and laundry facilities on site. Tenants are responsible for separately metered utilities such as heat, hot water, and electric. Located within walking distance to Derby Street and Downtown Salem, the Palmer Street location presents a great opportunity for tenants who work downtown and is only .8 miles from Salem Depot Commuter Rail Station for a 20-minute ride to Boston. 68-72 Palmer Street allows investors an opportunity to acquire a rare oversized 10-unit value-add brick building with 22 bedrooms within a supply-constrained urban dense area in one of the strongest transit-oriented North Shore communities.
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Highlights
- Parking Spots: 9
- Property Type: 5-9 Family
- Year Built: 1915
- Property Class: Residential Income
- Total Rooms: 42
- Status: Closed
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Additional Details
- Appliances: Utility Connections for Gas Range, Utility Connections for Electric Range
- Flooring: Vinyl, Carpet
- Lot Features: Corner Lot
- Total Number of Units: 10
- Year Built Source: Public Records
- Basement: Partial, Dirt Floor, Unfinished
- Foundation: Stone
- Road Frontage Type: Public
- Year Built Details: Actual
- Zoning: R3
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Amenities
- Community Features: Public Transportation, Shopping, Park, Laundromat
- Parking Features: Off Street
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $1,662,500
- Compensation Based On: Net Sale Price
- Taxes: $20,798
- Buyer Agent Compensation: 2%
- Tax Year: 2023
- Total Rent: $16,825
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Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of North Shore Realty Advisors.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
