NOT LISTED FOR SALE

10 Oakes Ave Gloucester, MA 01930

Magnolia Neighborhood
14 Beds
11 Baths
9,501 Sq Ft
0.43 Acres

Last Sold December 09, 2022

Last sale price $3,300,000 $347 Per Sq Ft

44 Days on Market

Highlights

  • Scenic Views
  • Waterfront
  • 3 Fireplaces
  • Granite Flooring
  • Property is near public transit
  • Corner Lot

About This Home

As of December 2022

RARE OPPORTUNITY to own an 11-unit building with stunning, unobstructed, oceanfront views. SHORE DRIVE MANOR sits at the tip of Magnolia Point. Once a hotel frequented by high-society, the property still retains features of a time gone by. Beautiful woodwork, paneling, beamed ceilings, stained glass, hardwood floors, fireplaces, and built-ins. Units are fully occupied and seller has updated Buderus Oil Boilers, water heater, and electric. The literature from the former hotel puts it best: "When you can relax at the waters edge caressed by Cape Ann's cool breezes, relax in the warm sun, take short walks to the beach, be centrally located to explore Cape Ann's wonders...who could ask for anything more?"

Last Agent to Sell the Property

Daniel Cutler

Bay Colony Realty Listed on: 07/08/2022

Co-Listed By

Sam Lockard

Bay Colony Realty

Last Buyer's Agent

David Johnson

Eastern Massachusetts Realty Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $28,662

Year Built

  • Built in 1907

Lot Details

  • 0.43 Acre Lot
  • Waterfront
  • Property fronts a private road
  • Near Conservation Area
  • Private Streets
  • Corner Lot
  • Gentle Sloping Lot
  • Sprinkler System

Home Design

  • Frame Construction
  • Shingle Roof
  • Rubber Roof

Interior Spaces

  • 9,501 Sq Ft Home
  • Property has 1 Level
  • 3 Fireplaces
  • Window Screens
  • Granite Flooring
  • Scenic Vista Views
  • Finished Basement
  • Basement Fills Entire Space Under The House

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 11 Full Bathrooms

Parking

  • 18 Car Parking Spaces
  • Driveway
  • Paved Parking
  • Open Parking
  • Off-Street Parking
  • Assigned Parking

Outdoor Features

  • Walking Distance to Water
  • Patio
  • Porch

Location

  • Property is near public transit

Utilities

  • Heating Available
  • Separate Meters
  • 200+ Amp Service
  • Tankless Water Heater
  • Private Sewer

Listing and Financial Details

  • Total Actual Rent $21,125
  • Rent includes unit 1(water hot water)
  • Assessor Parcel Number M:0166 B:0046 L:0000,1901806

Community Details

Overview

  • 11 Units

Amenities

  • Shops
  • Coin Laundry

Recreation

  • Jogging Path
  • Bike Trail

Building Details

  • Operating Expense $70,620
  • Net Operating Income $182,880

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$28,662

Year Built

Built in 1907

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • Year Built: 1907
  • Buyer Agency: 2.0
  • Transaction Broker: 1.0
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Year Round: Yes
  • Compensation Based On: Gross/Full Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 4

Interior Features

  • Flooring: Varies Per Unit
  • Fireplace YN: Yes
  • Fireplaces: 3
  • Appliances: Tankless Water Heater,Water Heater(Varies Per Unit),Water Heater, Utility Connections Varies per Unit
  • Total Bedrooms: 14
  • Full Bathrooms: 11
  • Total Bathrooms: 11
  • Total Bathrooms: 11
  • Basement: Full, Finished
  • Living Area: 9501
  • Stories Total: 4
  • Window Features: Screens
  • MAIN LO: AN3615
  • LIST PRICE PER Sq Ft: 368.38
  • PRICE PER Sq Ft: 347.33
  • MAIN SO: NB2372

Exterior Features

  • Exterior Features: Sprinkler System, Varies per Unit
  • Construction Materials: Frame
  • Foundation Details: Granite
  • Patio And Porch Features: Porch, Patio
  • Road Frontage Type: Public, Private Road
  • Road Surface Type: Paved
  • Roof: Shingle, Rubber
  • View: Scenic View(s)
  • View YN: Yes
  • Waterfront Features: Waterfront, Beach Front, Ocean, Ocean, Walk to, 1/10 to 3/10 To Beach, Beach Ownership(Public)
  • Waterfront YN: Yes

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street, Assigned, Paved
  • Total Parking Spaces: 18

Utilities

  • Sewer: Private Sewer
  • Utilities: Varies per Unit
  • Heating: Unit 1(Electric)
  • Electric: Circuit Breakers, 200+ Amp Service, Individually Metered
  • Heating YN: Yes
  • Water Source: Public
  • HEAT UNITS: 3

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Walk/Jog Trails, Laundromat, Bike Path, Conservation Area
  • Rent Includes: Unit 1(Water,Hot Water)

Lot Info

  • Parcel Number: M:0166 B:0046 L:0000,1901806
  • Zoning: R-20
  • Farm Land Area Units: Square Feet
  • Lot Features: Corner Lot, Gentle Sloping
  • Lot Size Acres: 0.43
  • Lot Size Area: 0.43
  • Lot Size Sq Ft: 18524
  • Lot Size Units: Acres
  • PAGE: 665
  • ResoLotSizeUnits: Acres

Green Features

  • Green Energy Efficient: Varies per Unit

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 28662
  • Tax Book Number: 5662

Multi Family

  • Gross Income: 253500
  • Net Operating Income: 182880
  • Number Of Units Total: 11
  • Operating Expense: 70620
  • Total Actual Rent: 21125
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 2: 1
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 2: 1

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/09/2022 12/09/22 Sold $3,300,000 -5.7% $347 / Sq Ft
08/22/2022 08/22/22 Pending -- -- --
07/08/2022 07/08/22 For Sale $3,500,000 -- $368 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Daniel Cutler

    Seller's Agent in 2022

    Daniel Cutler

    Bay Colony Realty

    (978) 590-5360

    1 in this area

    36 Total Sales

    Daniel Cutler
    Section Image

  • S

    Seller Co-Listing Agent in 2022

    Sam Lockard

    Bay Colony Realty

    Section Image

  • D

    Buyer's Agent in 2022

    David Johnson

    Eastern Massachusetts Realty Group

    (781) 820-6137

    1 in this area

    3 Total Sales

    David Johnson
    Section Image
See All Agents

Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73009381

MLS Property Information Network (MLS PIN)
Massachusetts Essex County Gloucester 01930 Magnolia

10 Oakes Ave, Gloucester, MA

This home is located at 10 Oakes Ave, Gloucester, MA 01930 since 08 July 2022. This property was built in 1907. 10 Oakes Ave is a home located in Essex County with nearby schools including West Parish, Ralph B O'maley Middle School, and Gloucester High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MLS Property Information Network (MLS PIN) The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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