Seller's Agent in 2023
Dan Pouladian
North Shore Realty Advisors
(617) 548-7737
6 in this area
28 Total Sales
68 Palmer St Salem, MA 01970
The Point Neighborhood
22
Beds
10
Baths
11,768
Sq Ft
6,229
Sq Ft Lot
Highlights
- Harbor Views
- Corner Lot
- Shops
- Property is near public transit
- Park
- 2-minute walk to Mary Jane Lee Park
About This Home
As of November 2023Rare 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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $20,798
Year Built
- Built in 1915
Lot Details
- 6,229 Sq Ft Lot
- Corner Lot
Home Design
- Stone Foundation
Interior Spaces
- 11,768 Sq Ft Home
- Harbor Views
Flooring
- Carpet
- Vinyl
Bedrooms and Bathrooms
- 22 Bedrooms
- 10 Full Bathrooms
Unfinished Basement
- Partial Basement
- Dirt Floor
Parking
- 9 Car Parking Spaces
- Off-Street Parking
Additional Features
- Property is near public transit
- Natural Gas Connected
Listing and Financial Details
- Total Actual Rent $16,825
Community Details
Overview
- 10 Units
- Property has 1 Level
Amenities
- Shops
- Coin Laundry
Recreation
- Park
Building Details
- Electric Expense $745
- Insurance Expense $13,000
- Water Sewer Expense $11,856
- Operating Expense $64,644
- Net Operating Income $131,780
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/14/2023 11/14/23 | Sold | $2,175,000 | +6.1% | $185 / Sq Ft |
| 10/05/2023 10/05/23 | Pending | -- | -- | -- |
| 09/28/2023 09/28/23 | For Sale | $2,050,000 | -- | $174 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Dan Pouladian
-
Sara Pouladian
S
Seller Co-Listing Agent in 2023
Sara Pouladian
North Shore Realty Advisors
(617) 910-6646
4 in this area
18 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73164474
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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 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 or leasing 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 or leasing. 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.
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