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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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222 Main St , Gloucester, MA 01930
$2,590,000
Est. Payment: $5,755.56/mo
0 Bed
0 Bath
0 Sqft
Status: Active | Days on site: 100
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AN8387 - BB809399
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from , its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House Description

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.
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Highlights

Listed by Stephen Martin , 617-212-3251 Aluxety , 800-806-3212.

Property Type

Commercial Sale
Lot/Acreage
0.07

Year Built

1900

County

Essex

Listing ID

73533334

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:

Exterior Features

Zoning:Legal Non-Conforming
Principal Interest
$5,756
Taxes
$694

Home Price

$2,590,000

Loan Details

30 yrs
%

Down Payment

20%
$518,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$5,755.56

Principal

Taxes

Principal Taxes HOA Total
Monthly $5,755.56 $694.00 $0.00 $6,449.56
Yearly $69,066.67 $8,328.00 $0.00 $77,394.67
Total $2,072,000.00 $249,840.00 $0.00 $2,321,840.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Gloucester, MA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.