NOT LISTED FOR SALE

2 - 4 Riggs St Gloucester, MA 01930

Central Gloucester Neighborhood
9 Beds
4 Baths
3,812 Sq Ft
3,920 Sq Ft Lot

Last Sold November 10, 2022

Last sale price $1,050,000 $275 Per Sq Ft

1 Day on Market

Highlights

  • Marina
  • Granite Flooring
  • Property is near public transit
  • Medical Services
  • Deck
  • Porch

About This Home

As of November 2022

DON'T WAIT on this Investor / Owner Occupied Opportunity! Completely renovated 4 Unit apartment building just off of the "Boulevard". 4 Meticulously renovated units that are occupied with Tenant at Will Agreements. All separately metered with updated electric and gas make this a manageable cash flow opportunity. Boilers were replaced in 2011. Water tanks have also been replaced / Units 1 & 4 in 2021, hot water tank for coin-op washer replaced in 2020. Each unit features a newer kitchen including cabinets and appliances, modern renovated baths, refinished wood floors. The list of improvements is endless: a Coin - Op washer dryer in the basement / 2021, back rubber roof replaced in 2021, Mansard shingles replaced in 2013, electric from the street and 5 electric panels in 2011, windows replaced in 2011 and 2012, both front cement stairs and left retaining wall replaced in 2020, commercial gutters and plastic fascia boards all new in 2021. Cash Flow and NOI on request. Cap Rate of 6.53%

Last Agent to Sell the Property

Kevin Street

Keller Williams Realty Evolution Listed on: 09/27/2022

Keller Williams Realty Evolution

Last Buyer's Agent

Fred Newton

Sovereign Realty Advisors, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,847

Year Built

  • Built in 1900 | Remodeled

Lot Details

  • 3,920 Sq Ft Lot
  • Irregular Lot

Parking

  • Open Parking

Home Design

  • Brick Foundation
  • Stone Foundation
  • Frame Construction
  • Shingle Roof
  • Rubber Roof

Interior Spaces

  • 3,812 Sq Ft Home
  • Insulated Windows
  • Dishwasher

Flooring

  • Wood
  • Carpet
  • Granite
  • Vinyl

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 4 Full Bathrooms

Laundry

  • Dryer
  • Washer

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry
  • Block Basement Construction

Outdoor Features

  • Deck
  • Porch

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • No Cooling
  • 4 Heating Zones
  • Heating Available
  • Separate Meters
  • 220 Volts
  • 110 Volts
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $6,875
  • Rent includes unit 1(water), unit 2(water), unit 3(water), unit 4(water)
  • Tax Lot 47

Community Details

Overview

  • 4 Units
  • Property has 2 Levels

Amenities

  • Medical Services
  • Shops

Recreation

  • Marina
  • Park

Building Details

  • Net Operating Income $82,500

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,847

Year Built

Built in 1900 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 4 Family
  • Property Condition: Unit 1 Remodeled, Unit 2 Remodeled, Unit 3 Remodeled
  • Year Built: 1900
  • Buyer Agency: 2.5
  • Transaction Broker: 2.5
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 7

Interior Features

  • Flooring: Wood,Vinyl,Carpet, Unit 1(undefined), Unit 2(Wood Flooring,Wall to Wall Carpet), Unit 3(Wood Flooring), Unit 4(Wood Flooring,Wall to Wall Carpet)
  • Interior Amenities: Unit 1(Lead Certification Available,High Speed Internet Hookup,Upgraded Cabinets,Bathroom With Tub & Shower,Internet Available - Broadband), Unit 2(Upgraded Cabinets,Bathroom With Tub & Shower,Internet Available - Broadband), Unit 3(Pantry,Upgraded Cabinets,Bathroom With Tub & Shower,Internet Available - Broadband), Unit 4(Upgraded Cabinets,Bathroom With Tub & Shower,Internet Available - Broadband), Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen), Unit 3 Rooms(Living Room,Dining Room,Kitchen,Office/Den), Unit 4 Rooms(Living Room,Kitchen)
  • Fireplace YN: No
  • Appliances: Washer, Dryer, Unit 1(Range,Dishwasher,Refrigerator,Vent Hood), Unit 2(Range,Dishwasher,Refrigerator,Vent Hood), Unit 3(Range,Dishwasher,Refrigerator,Vent Hood), Unit 4(Range,Dishwasher,Refrigerator,Vent Hood), Gas Water Heater,Tank Water Heater
  • Total Bedrooms: 9
  • Full Bathrooms: 4
  • Total Bathrooms: 4
  • Total Bathrooms: 4
  • Basement: Full, Interior Entry, Concrete, Unfinished
  • Living Area: 3812
  • Stories Total: 7
  • Window Features: Insulated Windows
  • MAIN LO: C95098
  • LIST PRICE PER Sq Ft: 261.02
  • PRICE PER Sq Ft: 275.45
  • MAIN SO: NB4772

Exterior Features

  • Construction Materials: Frame
  • Foundation Details: Stone, Brick/Mortar, Granite, Irregular
  • Home Warranty YN: No
  • Patio And Porch Features: Porch, Deck
  • Road Frontage Type: Public
  • Road Surface Type: Paved
  • Roof: Shingle, Rubber
  • Waterfront Features: Beach Front, Harbor, Ocean
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes

Utilities

  • Sewer: Public Sewer
  • Cooling: Unit 1(None), Unit 4(None)
  • Heating: Unit 1(Forced Air,Gas,Individual,Unit Control), Unit 2(Hot Water Radiators,Gas,Individual,Unit Control), Unit 3(Hot Water Baseboard,Hot Water Radiators,Gas,Individual,Unit Control), Unit 4(Forced Air,Gas,Individual,Unit Control)
  • Cooling Y N: No
  • Electric: 110 Volts, 220 Volts, Circuit Breakers, Individually Metered
  • Heating YN: Yes
  • Water Source: Public
  • HEAT UNITS: 4
  • HEAT ZONES: 4
  • COOLING ZONES: 0

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Park, Medical Facility, Highway Access, Marina, Public School, T-Station, Sidewalks
  • Rent Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)

Lot Info

  • Zoning: R-5
  • Farm Land Area Units: Square Feet
  • Lot Features: Easements
  • Lot Size Acres: 0.09
  • Lot Size Area: 0.09
  • Lot Size Sq Ft: 3920
  • Lot Size Units: Acres
  • PAGE: 549
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 6846.8
  • Tax Book Number: 31151
  • Tax Lot: 47
  • Tax Map Number: 2

Multi Family

  • Gross Income: 85500
  • Net Operating Income: 82500
  • Number Of Units Total: 4
  • Total Actual Rent: 6875
  • LEVELS 1: 2
  • Basement Included Sq Ft: No
  • LEVELS 4: 1
  • LEVELS 2: 2
  • LEVELS 3: 2
  • LEASE 4: N
  • LEASE 3: N
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 1
  • FLRS 4: 1
  • FLRS 3: 2
  • FLRS 2: 2

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
11/10/2022 11/10/22 Sold $1,050,000 +5.5% $275 / Sq Ft
09/29/2022 09/29/22 Pending -- -- --
09/27/2022 09/27/22 For Sale $995,000 -- $261 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin Street

    Seller's Agent in 2022

    Kevin Street

    Keller Williams Realty Evolution

    (978) 375-6246

    1 in this area

    17 Total Sales

    Kevin Street
    Section Image
  • Fred Newton

    Buyer's Agent in 2022

    Fred Newton

    Sovereign Realty Advisors, LLC

    (978) 865-3148

    2 in this area

    8 Total Sales

    Fred Newton
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73041182

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

2 - 4 Riggs St, Gloucester, MA

This home is located at 2 - 4 Riggs St, Gloucester, MA 01930 since 27 September 2022. This property was built in 1900. 2 - 4 Riggs St is a home located in Essex County with nearby schools including Beeman Memorial, 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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