1 Holly St, Gloucester, MA 01930
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$2,650,000
7 Unit
8 Beds
11 Baths
8440 SQFT
0.57 Acre

Property Description

Calling all business owners and savvy investors! Don't miss out on this incredible opportunity to own a prime mixed-use property in the iconic Willow Rest. This property is a true gem, boasting a combination of 4 residential units and 3 commercial units. With numerous extensive renovations already completed, it's now poised for its new owner to take the reins and further enhance its value through strategic upgrades, unlocking increased revenue potential. Take advantage of this opportunity to not only invest but also create or expand your own business within the commercial units while simultaneously earning rental income from the residential units. Don't let this opportunity slip through your fingers. Seize the chance to invest, innovate, and grow your wealth in the heart of the Gloucester Seaport community. Contact us today to schedule a viewing and explore the endless possibilities this property offers.

Property Details tap to expand

Building Information

  • Total Units: 7
  • Total Floors: 6
  • Total Bedrooms: 8
  • Total Full Baths: 7
  • Total Half Baths: 4
  • Amenities: Conservation Area, House of Worship, Park, Public School, Walk/Jog Trails

Financial

  • APOD Available: Yes
  • Expenses Source: Accountant Provided
  • Gross Operating Income: 121619
  • Net Operating Income: 79933

Utilities

  • Heat Zones: 7
  • Electric Info: Circuit Breakers, Underground
  • Utility Connections: for Gas Range
  • Water: City/Town Water, Individual Meter, On-Site, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 2
  • Other Rooms: Dining Room, Kitchen, Laundry, Living Room
  • Appliances: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
  • Interior Features: Lead Certification Available, Stone/Granite/Solid Counters
  • Heating: Extra Flue, Gas, Heat Pump
  • Levels: 2

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 2
  • Other Rooms: Dining Room, Kitchen, Laundry, Living Room
  • Appliances: Dishwasher, Dryer, Range, Refrigerator, Washer
  • Interior Features: Balcony/Deck
  • Heating: Extra Flue, Gas, Heat Pump
  • Levels: 1

Unit 3 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 4 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1930
  • Type: 5-9 Family
  • Construction Type: Aluminum, Frame, Stone/Concrete
  • Foundation Info: Slab
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Concrete, Wall to Wall Carpet, Wood
  • Lead Paint: Certified Treated, Unknown
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73162604
  • Last Updated: 10/05/23
  • Terms: Contract for Deed, Rent w/Option

Property History tap to expand

Date Event Price Price/Sq Ft Source
09/26/2023Active$2,650,000$314MLSPIN
09/26/2023Active$2,650,000MLSPIN
09/22/2023New$2,650,000MLSPIN
09/22/2023New$2,650,000$314MLSPIN

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Seller's Representative: Debra L. Lovelace, Churchill Properties
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2.0
Facilitator Compensation: 2.0
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2023-10-05 09:42:00