68-72 Palmer, Salem MA 01970
About this home
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.
Sale Statistics
This property sold for 6.1% above the original asking price, indicating strong buyer demand.
With only 6 days on market, this was a quick sale compared to typical market conditions.
Facts & Features
Property Overview
Interior Features
Exterior & Structure
Lot & Land
Parking & Garage
Utilities & Systems
Community & HOA
Financial & Tax Information
Additional Details
Location
Neighborhood
68-72 Palmer, Salem MA 01970
Salem, MA 01970
Walkability
Schools
School information not available
Monthly Payment Calculator
Payment Breakdown
Property History
Market Insights
Property Timeline
Sold
Nov 14, 2023Listed for Sale
Sep 28, 2023| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 11/14/2023 | ✓ Sold | $2,175,000 | - | - | Property sold |
| 09/28/2023 | 🏠 Listed for Sale | $2,050,000 | - | - | Original listing |