222 Main St, Gloucester, MA 01930

Gloucester
Local realty services provided by:Better Homes and Gardens Real Estate The Masiello Group
222 Main St,Gloucester, MA 01930
$2,390,000
  • 14 Beds
  • 10 Baths
  • 6,700 sq. ft.
  • Multi-family
  • Active
Listed by: stephen martin
Office: aluxety
MLS#:73601539
Source:MLSPIN

Price summary

  • Price:$2,390,000
  • Price per sq. ft.:$356.72

About this home

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.

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Home facts

  • Year built:1900
  • Listing ID #:73601539
  • Updated:November 13, 2026 at 12:59 PM

Rooms and interior

  • Bedrooms:14
  • Total bathrooms:10
  • Full bathrooms:10
  • Rooms Total:40
  • Basement Description:Crawl Space, Partial, Sump Pump
  • Living area:6,700 sq. ft.

Structure and exterior

  • Roof:Rubber, Shingle
  • Year built:1900
  • Building area:6,700 sq. ft.
  • Lot area:0.07 Acres
  • Lot Features:Zero Lot Line
  • Construction Materials:Frame
  • Exterior Features:Deck
  • Foundation Description:Brick/Mortar, Granite, Stone

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$2,390,000
  • Price per sq. ft.:$356.72
  • Tax amount:$8,328 (2026)

Parking

  • Parking description:On Street
The property listing data and information, or the Images, 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, and the Images, 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, or as to the accuracy of any of the Images, set forth herein.

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