NOT LISTED FOR SALE

7 Riggs St Gloucester, MA 01930

Central Gloucester Neighborhood
11 Beds
6.5 Baths
4,066 Sq Ft
1904 Built

Last Sold August 31, 2021

Last sale price $1,470,000 $362 Per Sq Ft

62 Days on Market

Highlights

  • Marina
  • Granite Flooring
  • Property is near public transit
  • Medical Services
  • Waterfront
  • Tennis Courts

About This Home

As of August 2021

If you think you missed your opportunity to purchase this income producing property, well now is your chance. If you are looking for an investment or 1031 exchange then look no further than this multi-family property close to the ocean. One block from Stacey Boulevard and Gloucester's outer harbor and the famous Greasy pole, this property is located in close proximity to downtown and all the excitement this seacoast city has to offer. Per city of Gloucester records, this is a 4 to 8 unit building, but it is currently being utilized as a 5 unit building. Come explore the potential of this ideally located, income-producing property.

Last Agent to Sell the Property

Hope Watt-Bucci

Coldwell Banker Realty - Manchester Listed on: 04/15/2021

Coldwell Banker Realty - Manchester

Last Buyer's Agent

James Kousoulos

Shilalis Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,030

Year Built

  • Built in 1904

Lot Details

  • Waterfront
  • Gentle Sloping Lot

Home Design

  • Shingle Roof

Interior Spaces

  • 4,066 Sq Ft Home
  • Granite Flooring

Bedrooms and Bathrooms

  • 11 Bedrooms

Laundry

  • Laundry Room
  • Washer and Dryer Hookup

Unfinished Basement

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

Parking

  • 3 Car Parking Spaces
  • Off-Street Parking

Outdoor Features

  • Porch

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • Heating Available
  • Oil Water Heater

Listing and Financial Details

  • Total Actual Rent $11,395
  • Rent includes unit 1(hot water), unit 2(hot water), unit 3(hot water), unit 4(hot water)
  • Assessor Parcel Number 1893578

Community Details

Overview

  • 5 Units
  • Property has 1 Level

Amenities

  • Medical Services
  • Shops
  • Coin Laundry

Recreation

  • Marina
  • Tennis Courts
  • Park

Building Details

  • Insurance Expense $2,200
  • Water Sewer Expense $800
  • Operating Expense $5,000
  • Net Operating Income $121,730

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,030

Year Built

Built in 1904

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Year Built: 1904
  • Buyer Agency: 2.0
  • Buyer Agency Type: %
  • Transaction Broker: 0
  • Transaction Broker Type: %
  • Year Built Details: Renovated Since
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Gross/Full Sale Price
  • APOD AVAILABLE: No
  • Special Features: None
  • Stories: 9

Interior Features

  • Interior Amenities: Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen), Unit 3 Rooms(Living Room,Kitchen), Unit 4 Rooms(Living Room,Kitchen)
  • Fireplace YN: No
  • Appliances: Unit 2(Range,Refrigerator), Oil Water Heater
  • Total Bedrooms: 11
  • Full Bathrooms: 6
  • Half Bathrooms: 1
  • Total Bathrooms: 7
  • Total Bathrooms: 6.5
  • Laundry Features: Laundry Room, Unit 1(Washer & Dryer Hookup)
  • Basement: Full, Concrete, Unfinished
  • Living Area: 4066
  • Stories Total: 9
  • MAIN LO: AN6181
  • LIST PRICE PER Sq Ft: 375.06
  • PRICE PER Sq Ft: 361.53
  • MAIN SO: AC0925

Exterior Features

  • Foundation Details: Granite
  • Home Warranty YN: No
  • Patio And Porch Features: Porch
  • Road Frontage Type: Public
  • Roof: Shingle
  • Waterfront Features: Beach Front, Ocean, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
  • Waterfront YN: Yes

Garage/Parking

  • Garage YN: No
  • Parking Features: Off Street
  • Total Parking Spaces: 3

Utilities

  • Sewer: Public Sewer
  • Heating: Unit 1(Gas)
  • Heating YN: Yes
  • Water Source: Public
  • HEAT UNITS: 5

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Tennis Court(s), Park, Medical Facility, Laundromat, Highway Access, House of Worship, Marina, Public School, T-Station
  • Rent Includes: Unit 1(Hot Water), Unit 2(Hot Water), Unit 3(Hot Water), Unit 4(Hot Water)
  • Senior Community YN: No

Fee Information

  • Water Sewer Expenses: 800

Lot Info

  • Parcel Number: 1893578
  • Zoning: R-5
  • Farm Land Area Units: Square Feet
  • Lot Features: Gentle Sloping
  • Lot Size Units: Acres
  • LOT SIZE: 0.1
  • PAGE: 0383

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 8030.03
  • Tax Book Number: 25698

Multi Family

  • Gross Income: 126730
  • Insurance Expense: 2200
  • Net Operating Income: 121730
  • Number Of Units Total: 5
  • Operating Expense: 5000
  • Total Actual Rent: 11395
  • LEVELS 1: 1
  • LEVELS 4: 1
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 4: Y
  • LEASE 3: N
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 1: 1
  • FLRS 4: 3
  • FLRS 3: 2
  • 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
08/31/2021 08/31/21 Sold $1,470,000 -3.6% $362 / Sq Ft
06/16/2021 06/16/21 Pending -- -- --
06/13/2021 06/13/21 Price Changed $1,525,000 -3.2% $375 / Sq Ft
06/02/2021 06/02/21 For Sale $1,575,000 0.0% $387 / Sq Ft
05/20/2021 05/20/21 Pending -- -- --
04/15/2021 04/15/21 For Sale $1,575,000 -- $387 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Hope Watt-Bucci

    Seller's Agent in 2021

    Hope Watt-Bucci

    Coldwell Banker Realty - Manchester

    (978) 808-5451

    2 in this area

    63 Total Sales

    Section Image

  • J

    Buyer's Agent in 2021

    James Kousoulos

    Shilalis Real Estate

    (617) 393-3458

    1 in this area

    17 Total Sales

    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72815719

MLS Property Information Network (MLS PIN)

Massachusetts Essex County Gloucester 01930 Central Gloucester

7 Riggs St, Gloucester, MA

This home is located at 7 Riggs St, Gloucester, MA 01930 since 15 April 2021. This property was built in 1904. 7 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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