$2,590,000
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 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.
Property details
- MLS #
- 73533334
- Property type
- Commercial Sale
- Subdivision
- N/A
- Status
- Active
- Days on market
- N/A
- On market date
- N/A
- Stories
- N/A
- Garage spaces
- N/A
- Lot size
- 0.07 acres
Location
Get directions →Nearby schools
Within 10 miles · public school directory data (NCES)
- Enrollment
- 216
- Student:teacher ratio
- 8.6:1
- District
- Gloucester
- Enrollment
- 630
- Student:teacher ratio
- 11.3:1
- District
- Gloucester
- Enrollment
- 830
- Student:teacher ratio
- 10.5:1
- District
- Gloucester
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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated June 14, 2026.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.