222 Main St, Gloucester, MA 01930
- Beds
- 14
- Baths
- 10
- Sqft
- 6,700
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Overview
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.
Location
Full feature list
Basic info
- Property type
- Multi-family
- Number of stories
- 5
- Number of bedrooms
- 14
- Number of bathrooms
- 10
- Square feet
- 6,700
- Lot size (acres)
- 0.07
- Year built
- 1900
Interior features
- Basement
- Yes, Partially finished
Exterior features
- Waterfront
- Ocean, Beach Ownership - Public, 1/2 to 1 Mile To Beach, Harbor
- Horse amenities
- Stable
Utilities
- Sewer
- Public Sewer
- Water
- Public Water
Taxes
- Tax Annual Amount (2026)
- $8,328
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: MLS Property Information Network (MLS PIN) MLS®#: 73533333 Last checked: …
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