Unit Information
Great investment opportunity in downtown Gloucester. This existing two-family property is currently occupied by two long-term tenants, providing immediate rental income while you move forward with an approved expansion project. All city approvals are in place for approximately 4,200 square feet of additional building area, comprising four townhouse-style units, each with three bedrooms and 1.5 baths. As an added benefit, the seller has already obtained a quote from a modular construction company for the four proposed units. The level and mostly cleared lot is ready for the next stage of development. Continue collecting rent from the existing units while completing the construction process. Centrally located near downtown amenities and the MBTA Commuter Rail, this property offers a compelling combination of current income and future growth potential.
- Additional Details
- Status: New
- Type: Multi-Family, Multi Family
- Zip Code: 01930
- Levels: 9
- Parking
- Garage Capacity: 6
- Parking: Off Street
- Parking Spaces: 6
- Rooms and Dimensions
- Total Units: 6
- Total Floors: 9
- Total Rooms: 29
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$995,000
- Status: New
- Listing ID: 73595656
- Bedrooms: 16
- Full Baths: 6
- Half Baths: 4
- Living Area: 5,919 sqft Convert
- Lot Size: 7,298 sqft Convert
- Acres: 0.17
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Luxury Residential Group
(617) 233-5800
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LRG Luxury Residential Group | 355 Boylston St, Boston MA 02116 | (617) 233-5800 | |