$2,590,000 ($386.57 per sqft)

Est. Mortgage $12,590/mo *

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222 Main St, Gloucester, MA, 01930

222 Main St, Gloucester, MA, 01930
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40 rooms

14 beds

10 Full baths

1900

6,700 sqft

10-unit downtown Gloucester, consisting of 7 residential units & 3 commercial units w/ strong in-place income and long-term upside. The property generates approximately $262,920 in gross annual income w/ operating expenses of ~$71,000, delivering an attractive 7.4% cap rate; increasingly difficult to find in today’s market. Lead compliant certificates for 7 residential units. This asset has been significantly improved, featuring a new roof, updated siding, newer windows, and a rebuilt rear deck, minimizing near-term capital expenditures. Highly walk-able downtown location, tenants benefit from proximity to shops, restaurants, the waterfront, and public transportation supporting strong rental demand across both residential and commercial units. Ideal for an investor seeking stable cash flow with upside, or a 1031 exchange buyer looking to trade into a larger, higher-performing asset in a prime coastal market.

Status:

Active

Type:

Multi-family

Units:

10

Zoning:

CB

Basement:

Partial, Crawl Space, Sump Pump

Levels:

5

Parking:

On Street

Acreage:

0.07

Est. Taxes:

$8,328

Assessment

$894,537

Construction

Frame

Lot Description:

Zero Lot Line

Amenities:

Public Transportation, Shopping, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, Public School, T-Station

MLS #:

73533333

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Stephen Martin, Aluxety 800-806-3212