$2,590,000
New222 Main St
Gloucester, MA, 01930
Multi-Family · MLS #73533333
Price/sqft
$387
Days on market
2 days
Year built
1900
Lot size
0.07 ac
6,700 sq ft
Sq Ft
0.07 acres
Lot
1900
Year Built
Taxes: $8,328 (2026)
About this home
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 todays 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
222 Main St, Gloucester, MA, 01930
Property details
- Road type
- Public
- Basement
- Partial, Crawl, Sump Pump
- Waterview Features
- Harbor
Listed by Stephen Martin · Aluxety
Schedule a showing
222 Main St
Estimated payment
$14,870 / month
Loan term
- Principal & interest
- $13,096
- Property tax
- $694
- Home insurance
- $1,079
Estimate only. Actual payment may vary based on credit, taxes, HOA, and insurance. Tax estimate uses listed taxes.
Compare
