13 Flume Rd, Gloucester, MA 01930
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$1,999,999
8 Unit
7 Beds
10 Baths
7582 SQFT
0.20 Acre

Property Description

Attention business owners and investors! Fantastic opportunity to own this Mixed Use property in sight of the ocean and in the heart of Magnolia Village. Four residential apartments. The first-floor unit has an updated kitchen and hardwood floors and offers 3 bedrooms and 2.5 baths also two one-bedroom apartments..one apartment rented and the other apartment being renovated and a penthouse 2 bedroom unit completely renovated. Relaxing " common area ocean-view roof deck. Four retail units are located on Lexington Ave. 3 Store fronts rented and 1 vacancy. All store fronts pay their own utilities. Residential renters have heat and hot water included. Septic System is massive and supports up to 14 bedrooms. Take advantage of this up-and-coming area with its shops and restaurants. This property has so much potential Think... Condo conversion? Airbnb? Live and have your business with no commute. Steps to the ocean and Kettle Cove beach, restaurants, shops, and Magnolia Library.

Property Details tap to expand

Building Information

  • Total Units: 8
  • Total Floors: 11
  • Total Bedrooms: 7
  • Total Full Baths: 5
  • Total Half Baths: 5
  • Amenities: Laundromat, Marina, Medical Facility, Park, Public School, Shopping
  • Basement Features: Interior Access, Walk Out
  • Common Rooms: Dining Room, Kitchen, Living Room
  • Common Interior Features: Upgraded Cabinets
  • Common Heating: Electric Baseboard, Forced Air, Oil, Oil, Radiant

Financial

  • APOD Available: No
  • Gross Operating Income: 144000
  • Net Operating Income: 44400

Utilities

  • Electric Info: 100 Amps, Circuit Breakers, Other (See Remarks), Underground
  • Water: City/Town Water, Private
  • Sewer: On-Site, Private Sewerage

Unit 1 Description

  • Included in Rent: Heat, Hot Water
  • Under Lease: No
  • Floors: 1
  • Levels: 2

Unit 2 Description

  • Included in Rent: Heat, Hot Water
  • Under Lease: No
  • Floors: 3
  • Levels: 1

Unit 3 Description

  • Included in Rent: Heat, Hot Water
  • Under Lease: No
  • Floors: 3
  • Levels: 1

Unit 4 Description

  • Included in Rent: Heat, Hot Water
  • Under Lease: No
  • Floors: 4
  • Levels: 1

Construction

  • Year Built: 1920
  • Type: 5-9 Family
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone
  • Roof Material: Asphalt/Composition Shingles, Rubber
  • Flooring Type: Hardwood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73242929
  • Last Updated: 09/27/24
  • Terms: Contract for Deed, Rent w/Option

Property History tap to expand

Date Event Price Price/Sq Ft Source
12/21/2024Expired$1,999,999MLSPIN
09/27/2024Active$1,999,999$264MLSPIN
09/23/2024Extended$1,999,999$264MLSPIN
07/23/2024Active$1,999,999$264MLSPIN
07/08/2024Price Change$1,999,999$264MLSPIN
07/08/2024Price Change$1,999,999MLSPIN
06/24/2024Active$2,200,000MLSPIN
06/20/2024New$2,200,000MLSPIN
06/19/2024Active$2,200,000$290MLSPIN
06/15/2024Price Change$2,200,000$290MLSPIN
06/01/2024Active$2,400,000$317MLSPIN
05/28/2024New$2,400,000$317MLSPIN
01/01/2024Expired$2,400,000$317MLSPIN
01/01/2024Expired$2,400,000MLSPIN
12/13/2023Temporarily Withdrawn$2,400,000$317MLSPIN
12/13/2023Temporarily Withdrawn$2,400,000MLSPIN
11/24/2023Active$2,400,000MLSPIN
11/24/2023Active$2,400,000$317MLSPIN
11/20/2023Extended$2,400,000$317MLSPIN
11/20/2023Extended$2,400,000MLSPIN
10/29/2023Active$2,400,000MLSPIN
10/29/2023Active$2,400,000$317MLSPIN
10/25/2023Extended$2,400,000MLSPIN
10/25/2023Extended$2,400,000$317MLSPIN
08/30/2023Active$2,400,000MLSPIN
08/30/2023Active$2,400,000$317MLSPIN
08/26/2023Extended$2,400,000$317MLSPIN
08/26/2023Extended$2,400,000MLSPIN
03/31/2023Active$2,400,000MLSPIN
03/31/2023Active$2,400,000$317MLSPIN
03/27/2023New$2,400,000MLSPIN
03/27/2023New$2,400,000$317MLSPIN
03/27/2023Canceled$2,400,000MLSPIN
03/27/2023Canceled$2,400,000$317MLSPIN
01/14/2023Active$2,400,000$317MLSPIN
01/14/2023Active$2,400,000MLSPIN
01/10/2023New$2,400,000$317MLSPIN
01/10/2023New$2,400,000MLSPIN

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Seller's Representative: Richard Palladino, Century 21 North East
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-09-27 03:05:00