NOT LISTED FOR SALE

Estimated Value: $2,425,192

5 Beds
9 Baths
4,916 Sq Ft
$493/Sq Ft Est. Value

Last Sold November 02, 2023

Last sale price $2,225,000 $453 Per Sq Ft

Est. 9% increase in value since last sale

Current estimated payment $13,461/month

24 Days on Market

Highlights

  • Waterfront
  • 1 Fireplace
  • 1 Cooling Zone
  • Deck
  • Shops

About This Home

As of November 2023

Imagine having an investment WATERFRONT property with 7 UNITS on Smith Cove on Rocky Neck, the oldest working Art Colony in the country. Take advantage of this rare opportunity to be a part of the energy of this vibrant area of Gloucester, with its art galleries, restaurants, shops and boating activities. Famous artists from all over the world have chosen to live on Rocky Neck, because of the amazing light on Smith Cove, and the bohemian energy that perpetuates a very eclectic population. Enjoy the opportunity to live in one of the beautiful residences, with magnificent water views and large decks, and still have the advantage of having a substantial income. Property has been extensively renovated in 2017 and is in "turnkey" condition. Showings will begin on Thursday, August from 10:00-11:30.

Last Agent to Sell the Property

Ginger Attaya

Listed on: 08/02/2023

Last Buyer's Agent

Nest / Syndi Zaiger Group

Compass

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,927

Year Built

  • Built in 1940

Lot Details

  • 4,191 Sq Ft Lot
  • Waterfront

Interior Spaces

  • 4,916 Sq Ft Home
  • 2-Story Property
  • 1 Fireplace

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 9 Full Bathrooms

Outdoor Features

  • Deck

Utilities

  • 1 Cooling Zone
  • 6 Heating Zones

Listing and Financial Details

  • Total Actual Rent $11,650
  • Assessor Parcel Number 4875595
  • Tax Block 49

Community Details

Building Details

  • Operating Expense $37,575
  • Net Operating Income $102,225

Additional Features

  • 7 Units
  • Shops

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,927

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5+ Family - 5+ Units Up/Down
  • Year Built: 1940
  • Year Built Details: Approximate,Renovated Since
  • SUB AGENCY OFFERED: No
  • Year Round: Yes
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 2

Interior Features

  • Fireplace YN: Yes
  • Fireplaces: 1
  • Total Bedrooms: 5
  • Full Bathrooms: 9
  • Total Bathrooms: 9
  • Living Area: 4916
  • Spa YN: No
  • Stories Total: 2
  • MAIN LO: AN1921
  • MAIN SO: AN2383

Exterior Features

  • Exterior Features: Deck,Other (See Remarks)
  • Foundation Details: Other
  • Home Warranty YN: No
  • Patio And Porch Features: Deck
  • Waterfront Features: Waterfront, Beach Front, Other (See Remarks), 1/10 to 3/10 To Beach, Beach Ownership(Public)
  • Waterfront YN: Yes
  • Waterview Flag: Yes

Garage/Parking

  • Garage YN: No

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • HEAT UNITS: 6
  • HEAT ZONES: 6
  • COOLING ZONES: 1

Condo/Co-op/Association

  • Community Features: Shopping, Other
  • Senior Community YN: No

Lot Info

  • Parcel Number: 4875595
  • Zoning: NB
  • Farm Land Area Units: Square Feet
  • Lot Features: Other
  • Lot Size Acres: 0.1
  • Lot Size Sq Ft: 4191
  • Lot Size Units: Acres
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 7926.52
  • Tax Block: 49

Multi Family

  • Net Operating Income: 102225
  • Number Of Units Total: 7
  • Operating Expense: 37575
  • Total Actual Rent: 11650
  • Basement Included Sq Ft: No
  • COOLING UNITS: 1
  • LEASE 2: N
  • LEASE 1: N

Range of Values:

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Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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

Property History

Date Event Price List to Sale Price per Sq Ft
11/02/2023 11/02/23 Sold $2,225,000 -10.1% $453 / Sq Ft
10/21/2023 10/21/23 Off Market $2,475,000 -- --
08/27/2023 08/27/23 Pending -- -- --
08/02/2023 08/02/23 For Sale $2,475,000 -- $503 / 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 $10,863 $1,117,600 $374,900 $742,700
2024 $6,848 $773,200 $357,000 $416,200
2023 $0 $728,800 $318,800 $410,000
2022 $0 $633,400 $277,200 $356,200
2021 $0 $554,500 $252,000 $302,500
2020 $6,848 $537,500 $252,000 $285,500
2019 $0 $434,700 $252,000 $182,700
2018 $0 $430,500 $252,000 $178,500
2017 $0 $480,000 $240,000 $240,000
2016 -- $445,700 $239,900 $205,800
2015 -- $445,700 $239,900 $205,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73143496

MLS Property Information Network (MLS PIN)

APN: GLOU-000128-000049