$995,000
About this home
Great investment opportunity in downtown Gloucester. This existing two-family property is currently occupied by two long-term tenants, providing immediate rental income while you move forward with an approved expansion project. All city approvals are in place for approximately 4,200 square feet of additional building area, comprising four townhouse-style units, each with three bedrooms and 1.5 baths. As an added benefit, the seller has already obtained a quote from a modular construction company for the four proposed units. The level and mostly cleared lot is ready for the next stage of development. Continue collecting rent from the existing units while completing the construction process. Centrally located near downtown amenities and the MBTA Commuter Rail, this property offers a compelling combination of current income and future growth potential.
Property details
- MLS
- MLS Property Information Network
- MLS #
- 73595656
- Property type
- 5-9 Family
- Subdivision
- N/A
- Status
- Active
- Days on market
- 1
- On market date
- October 27, 2026
- Stories
- 9
- Total bathrooms
- 8
- Garage spaces
- N/A
- Parking spaces
- 6
- Lot size
- 0.17 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- 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
Walkability
Blended score for Gloucester's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). EPA National Walkability Index only -- nearby-amenity data not cached yet for this area.
Market position
How this listing compares to current activity in Gloucester, from live MLS data.
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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated 22 hr ago.
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.