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14 Days on Jacob Realty
12
$2,590,000
Total Beds: 14 Total Baths: 10
Total Units: 10 SQFT: 6700
LOT size: 0.07 Acres
222 Main St
Gloucester, MA 01930
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Property Description

10-unit downtown Gloucester, consisting of 7 residential units & 3 commercial units w/ strong in-place income and long-term upside. The property generates approximately $262,920 in gross annual income w/ operating expenses of ~$71,000, delivering an attractive 7.4% cap rate; increasingly difficult to find in today’s market. Lead compliant certificates for 7 residential units. This asset has been significantly improved, featuring a new roof, updated siding, newer windows, and a rebuilt rear deck, minimizing near-term capital expenditures. Highly walk-able downtown location, tenants benefit from proximity to shops, restaurants, the waterfront, and public transportation supporting strong rental demand across both residential and commercial units. Ideal for an investor seeking stable cash flow with upside, or a 1031 exchange buyer looking to trade into a larger, higher-performing asset in a prime coastal market.

Property Details

Building Information

  • Total Units: 10
  • Total Floors: 5
  • Total Bedrooms: 14
  • Total Full Baths: 10
  • Amenities: Highway Access, Laundromat, Medical Facility, Public School, Public Transportation, Shopping, T-Station, Walk/Jog Trails
  • Basement Features: Crawl, Mixed, Partial, Sump Pump

Financial

  • APOD Available: Yes
  • Expenses Source: Estimated, Projected
  • Gross Operating Income: 262920
  • Gross Expenses: 71660
  • Net Operating Income: 191260

Utilities

  • 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: Yes
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5+ Family - 5+ Units Up/Down
  • Construction Type: Aluminum, Frame
  • Foundation Info: Brick, Fieldstone, Granite
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles, Rubber
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73533333
  • Last Updated: 06/14/26
  • Terms: Contract for Deed, Rent w/Option

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Map

Seller's Representative: Stephen Martin, Aluxety
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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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2026-06-14 04:05:00