7 Oak Street, Gloucester, MA 01930
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$789,000
3 Unit
8 Beds
3 Baths
2802 SQFT
0.00 Acre

Property Description

A fantastic opportunity for both owner-occupants and investors to acquire a well located 3-family property in Gloucester. Unit 1&2 each with three bedrooms, 1 bath, a living room, kitchen, and in-unit laundry. Unit 3 featuring 2 bedrooms, a kitchen, and a living room. Recent updates include heating systems, water heaters, and rubber roof. The common basement has been updated and offers ample storage space. Additionally, the property includes a driveway with 4 parking spots and off-street parking. Current rents are below market value, providing potential for increased rental income. Located near downtown Gloucester, you'll have easy access to restaurants, shops, the waterfront and commuter routes. This property presents a great investment or owner-occupancy opportunity in a desirable area of Gloucester.

Property Details tap to expand

Building Information

  • Total Units: 3
  • Total Floors: 6
  • Total Bedrooms: 8
  • Total Full Baths: 3
  • Basement Features: Bulkhead, Concrete Floor, Full, Interior Access, Unfinished Basement
  • Common Rooms: Kitchen, Living Room, Sunroom
  • Common Interior Features: Bathroom With Tub & Shower, Storage
  • Common Appliances: Dishwasher, Range, Refrigerator, Washer & Dryer Hookup
  • Common Heating: Active Solar, Electric, Electric Baseboard, Extra Flue, Forced Air, Gas, Gas, Heat Pump, Hot Air Gravity, Hot Water Baseboard, Hot Water Radiators, Space Heater

Financial

  • APOD Available: No
  • Gross Operating Income: 57600
  • Net Operating Income: 57600

Utilities

  • Electric Info: Circuit Breakers, Underground
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

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

Unit 3 Description

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

Construction

  • Year Built: 1900
  • Type: 3 Family
  • Foundation Info: Granite
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Hardwood
  • Lead Paint: Unknown
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73282563
  • Last Updated: 10/10/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
10/10/2024Contingent$789,000$282MLSPIN
10/02/2024Active$789,000$282MLSPIN
09/28/2024Price Change$789,000$282MLSPIN
09/26/2024Back on Market$859,000$307MLSPIN
09/20/2024Contingent$859,000$307MLSPIN
09/01/2024Active$859,000$307MLSPIN
08/28/2024New$859,000$307MLSPIN

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Seller's Representative: Jill Michaud, Gibson Sotheby's International Realty
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-10-10 17:36:00