368 Essex Ave, Gloucester, MA 01930
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$1,699,000
3 Unit
7 Beds
3 Baths
3831 SQFT
3.70 Acre

Property Description

Investors and developers, take note! This is a rare opportunity to acquire a substantial 3.7-acre parcel in a highly desirable West Gloucester location. This offering includes a considerable three-family property situated on a sprawling 2.44-acre lot, with an additional 1.26-acre lot being sold together. The existing property offers immediate income potential with three separate units. However, the real allure lies in the significant potential for subdivision (subject to buyer due diligence and approvals). Zoning is R20 with potential for 5 ANR lots and the property may be included in a future MBTA MF 3A Overlay district (not yet established). Imagine the possibilities for future development! Don't miss out on this unique chance to own a significant piece of land in a prime Gloucester setting.

Property Details tap to expand

Building Information

  • Total Units: 3
  • Total Floors: 4
  • Total Bedrooms: 7
  • Total Full Baths: 3
  • Total Fireplaces: 1
  • Amenities: Conservation Area, Highway Access, Marina, Public School, Public Transportation, T-Station, Walk/Jog Trails
  • Common Interior Features: Tile Floor
  • Common Appliances: Washer Hookup

Financial

  • APOD Available: No
  • Gross Operating Income: 21600
  • Net Operating Income: 21600

Utilities

  • Electric Info: Circuit Breakers, Individually Metered, Underground
  • Utility Connections: for Electric Dryer, for Electric Oven, Washer Hookup
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 2

Construction

  • Year Built: 1920
  • Type: 3 Family
  • Foundation Info: Slab
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Concrete, Tile, Vinyl, Wall to Wall Carpet
  • Lead Paint: Unknown
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73373946
  • Last Updated: 05/17/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
05/17/2025Active$1,699,000$443MLSPIN
05/17/2025Active$1,699,000MLSPIN
05/13/2025New$1,699,000MLSPIN
05/13/2025New$1,699,000$443MLSPIN

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Seller's Representative: Antonia Frank, Churchill Properties
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 2025-05-17 03:05:00