222 Main St,Gloucester, MA 01930
Gloucester, MA 01930
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.
Details
| MLS # | 73533334 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 105 |
| Listing Provided By | Aluxety | Stephen Martin |
Features
| Zoning | CB |
|---|---|
| Acreage | 0.07 |
Utilities
| Utilities | Public Water, Public Sewer |
|---|
Taxes
| Tax Annual Amount | 8328 |
|---|---|
| Tax Year | 2026 |
Location
| Senior Community Yes / No | No |
|---|
Area Information
| State | MA |
|---|---|
| County | Essex |
| City | Gloucester |
| Zip Code | 01930 |
| Area | Essex |
| Listing VS Median (in 01930) | |
Price: $2,590,000 low | high Med: $599,900 On site: 105 low | high Med: 74 | |
Market Activity 01930
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Learn More About This Property
| State | MA |
|---|---|
| County | Essex |
| City | Gloucester |
| Zip Code | 01930 |
| Area | Essex |
| Listing VS Median (in 01930) | |
Price: $2,590,000 low | high Med: $599,900 On site: 105 low | high Med: 74 | |
