1060-1062 Washington St, Gloucester, MA 01930
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$799,000
3 Unit
6 Beds
4 Baths
2388 SQFT
0.15 Acre

Property Description

Hard to find fully tenanted 3 family in Lanesville village setting comprised of a large 6 Rm 3-4 BR 2 BA 1st floor apt, a 4 Rm 2 BR 1 BA 2nd floor apt., and a 2 Rm 1 BA 3rd floor studio apt. In addition, there is a detached combination 1 car garage/cottage great for workshop in rear along with 2 car off street paved parking, yard, patio for firepit area, and large 1st floor deck! Low maintenance vinyl siding. Full basement offers ample storage. Former Artist residence and gallery offers good investment or owner occupant opportunity in a desirable location very close to Plum Cove Beach for swimming and incredible sunsets, Folly Cove for scuba diving, and Lane's Cove for boating and fishing! Units are very functional but could use some updates over time. Zoned VB village business offers many possibilities! Large handicap 1st floor bath and laundry. $5900 monthly gross rental income!

Property Details tap to expand

Building Information

  • Total Units: 3
  • Total Floors: 6
  • Total Bedrooms: 6
  • Total Full Baths: 4
  • Amenities: Conservation Area, Highway Access, House of Worship, Marina, Medical Facility, Park, Public School, Public Transportation, T-Station, Walk/Jog Trails
  • Basement Features: Bulkhead, Concrete Floor, Full, Interior Access
  • Common Rooms: Family Room, Kitchen, Living RM/Dining RM Combo, Living Room
  • Common Interior Features: Bathroom with Shower Stall, Bathroom With Tub & Shower, Lead Certification Available, Pantry, Slider, Tile Floor
  • Common Appliances: Dishwasher, Dryer, Range, Refrigerator, Washer, Washer & Dryer Hookup
  • Common Heating: Electric, Electric Baseboard, Forced Air, Gas, Hot Air Gravity, Hot Water Baseboard, Oil, Radiant, Space Heater
  • Common Cooling: None

Financial

  • APOD Available: No
  • Expenses Source: Owner Provided
  • Gross Operating Income: 70800
  • Gross Expenses: 4087
  • Electric Expenses: 2700
  • Water/Sewer: 4087
  • INSC: 3800
  • Net Operating Income: 60213

Utilities

  • Electric Info: 100 Amps, 220 Volts, At Street, Circuit Breakers, Individually Metered, Other (See Remarks), Underground
  • Energy Features: Insulated Windows
  • Utility Connections: for Electric Oven, for Electric Range, for Gas Oven, for Gas Range, Varies per Unit
  • 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: Hot Water, Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Included in Rent: Hot Water, Water
  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 3 Family - 3 Units Up/Down
  • Construction Type: Aluminum, Frame
  • Foundation Info: Granite
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles, Rubber
  • Flooring Type: Hardwood, Laminate, Pine, Tile, Vinyl / VCT, Wood
  • Lead Paint: Yes
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73350857
  • Last Updated: 03/31/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
03/31/2025Active$799,000$335MLSPIN
03/27/2025New$799,000$335MLSPIN

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Seller's Representative: Lane Team, North Shore's Gold Coast 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 2025-03-31 03:06:00