NOT LISTED FOR SALE
9 Beds
9 Baths
9,602 Sq Ft
5,227 Sq Ft Lot

Last Sold February 28, 2022

Last sale price $845,000 $88 Per Sq Ft

8 Days on Market

About This Home

As of February 2022

Investors take note. BY APPOINTMENT ONLY - Please register to attend a private tour of the property during our open house on May 22, 9am-12pm and again on May 23, 9am-12pm. Offers due Tuesday, May 25th by 5pm and will be reviewed and responded to on May 26th. A rare opportunity to own an investment opportunity in downtown Gloucester featuring nine residential units, one commercial space complete with two car garage with a solid rental history spanning over 30 years. This three story multi-use building featuring nine one bedroom apartments, one commercial unit and a two car garage is ready for a new owner. All residential units are fully occupied and tenants will remain with the sale. Pets allowed, Coin operated laundry on site and all conveniently located downtown Gloucester in walking distance of MBTA Commuter Rail to Boston, all area shopping, parks and recreation, cultural and restaurant scene including area beaches.

Last Listed By

Amanda Armstrong

Compass Listed on: 05/20/2021

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,881

Year Built

  • 1900

Lot Details

  • 5,227

Parking

  • 2

Additional Features

  • Property has 1 Level
  • 10 Heating Zones

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,881

Year Built

1900

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • Directions: Washington Street onto Derby Street right onto Maplewood
  • Garage Yn: Yes
  • Road Frontage Type: Public
  • Year Built Details: Approximate
  • Special Features: None
  • Year Built: 1900

Interior Features

  • Appliances: Washer, Dryer, Gas Water Heater, Utility Connections for Gas Range
  • Has Basement: Partial, Dirt Floor, Concrete
  • Total Bathrooms: 9
  • MAIN LO: AN4733
  • LIST PRICE PER Sq Ft: 102.06
  • PRICE PER Sq Ft: 88
  • MAIN SO: C95600
  • Full Bathrooms: 9
  • Total Bedrooms: 9
  • Fireplace: No
  • Flooring: Wood,Carpet, Hardwood Floors
  • Stories: 10

Exterior Features

  • Roof: Shingle, Rubber
  • Foundation Details: Stone, Granite
  • Construction Type: Frame
  • Disclosures: Room Measurements Are Approximate And Not To Scale. Property Sold "as Is" "where Is". Buyer Responsible To Complete Their Own Due Diligence. All Units Are Occupied. Tenants Are At Will And Would Like To Remain. Total Of 6 Parking Spaces Shared With 48 Cleveland Street Mls# 72835112
  • Home Warranty: No
  • Lot Features: Corner Lot
  • Waterfront Features: Beach Front, Bay, Harbor, Ocean, Walk to, 1/2 to 1 Mile To Beach, Beach Ownership(Public)
  • Waterfront: Yes

Garage/Parking

  • Covered Parking Spaces: 2
  • Garage Spaces: 2
  • Total Parking Spaces: 4

Utilities

  • Cooling: None
  • Heating: Baseboard,Natural Gas
  • HEAT ZONES: 10
  • COOLING ZONES: 0
  • Cooling Y N: No
  • Heating Yn: Yes
  • Laundry Features: Laundry Room
  • Sewer: Public Sewer
  • Utilities: for Gas Range
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Park, Medical Facility, House of Worship, Public School, T-Station
  • Senior Community: No

Schools

  • Elementary School: Beeman
  • High School: Gloucester
  • Middle Or Junior School: O'maley

Lot Info

  • LOT SIZE: 5353
  • PAGE: 115
  • Farm Land Area Units: Square Feet
  • Lot Size Sq Ft: 5227.2
  • Zoning: R-5

Multi Family

  • LEVELS 1: 1
  • LEVELS 4: 1
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 4: N
  • LEASE 3: N
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 2
  • FLRS 4: 2
  • FLRS 3: 2
  • FLRS 2: 2
  • Annual Gross Income: 74118
  • Property Net Operating Income: 12028
  • Number Of Units Total: 10
  • Annual Operating Expense: 62090
  • Total Actual Rent: 6176

Tax Info

  • Tax Annual Amount: 8150.69
  • Tax Block: 0016
  • Tax Book Number: 13874
  • Tax Lot: 0000
  • Tax Map Number: 0027
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 20, 2021
Closed on
Feb 28, 2022
Sold by
Joseph Scott K Est and Joseph
Bought by
Pollard Brian J
Seller's Agent
Amanda Armstrong
Compass
Buyer's Agent
Mark Ventimiglia
Vadala Real Estate
List Price
$980,000
Sold Price
$845,000
Premium/Discount to List
-$135,000
-13.78%
Total Days on Market
8

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$695,000
Outstanding Balance
$659,853
Interest Rate
3.55%
Mortgage Type
Commercial

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Pollard Brian J $1,125,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Pollard Brian J $695,000
Previous Owner H J Joseph Rt $160,000
Previous Owner H J Joseph Rt $25,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/28/2022 02/28/22 Sold $845,000 -13.8% $88 / Sq Ft
05/28/2021 05/28/21 Pending -- -- --
05/20/2021 05/20/21 For Sale $980,000 -- $102 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,881 $1,055,300 $389,200 $666,100
2024 $7,881 $1,055,300 $389,200 $666,100
2023 $0 $1,048,800 $318,300 $730,500
2022 $0 $902,200 $276,100 $626,100
2021 $0 $655,200 $133,400 $521,800
2020 $7,881 $618,600 $133,400 $485,200
2019 $0 $613,400 $133,400 $480,000
2018 $0 $603,000 $133,400 $469,600
2017 $0 $591,400 $127,000 $464,400
2016 -- $550,300 $127,400 $422,900
2015 -- $550,300 $127,400 $422,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72835114

MLS Property Information Network (MLS PIN)

APN: GLOU-000027-000016