For sale

$2,590,000

222 Main St, Gloucester, MA 01930

14beds

6,700sqft

$15,384/mo

Get pre-qualified

5+ Family - 5+ Units Up/Down

Built in 1900

-- sqft lot

$2,420,900 Zestimate^®

$387/sqft

$-- HOA

What's special

Newer windowsRebuilt rear deckNew roofUpdated siding

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.

70 days

454

22

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 14
Bathrooms: 10
Full bathrooms: 10

Features

Basement: Partial,Crawl Space,Sump Pump
Has fireplace: No

Interior area

Total structure area: 6,700
Total interior livable area: 6,700 sqft
Finished area above ground: 6,700

Property

Parking

Parking features: On Street
Has uncovered spaces: Yes

Features

Patio & porch: Deck
Has view: Yes
View description: Water, Harbor
Has water view: Yes
Water view: Harbor,Water
Waterfront features: Harbor, Ocean, 1/2 to 1 Mile To Beach, Beach Ownership(Public)

Lot

Size: 2,927 Square Feet
Features: Zero Lot Line

Details

Parcel number: M:0013 B:0017 L:0000,1893957
Zoning: CB

Construction

Type & style

Home type: MultiFamily
Property subtype: 5+ Family - 5+ Units Up/Down

Materials

Frame
Foundation: Stone, Brick/Mortar, Granite
Roof: Shingle,Rubber

Condition

Year built: 1900

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: Public Transportation, Shopping, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, Public School, T-Station

Location

Region: Gloucester

Financial & listing details

Price per square foot: $387/sqft
Tax assessed value: $894,537
Annual tax amount: $8,328
Date on market: 6/10/2026
Listing terms: Contract
Total actual rent: 21810

Estimated market value

$2,420,900

$2.30M - $2.54M

$3,221/mo

Price history

Date	Event	Price
6/10/2026	Listed for sale	$2,590,000+99.2%$387/sqft
Source: MLS PIN #73533333 Report a problem
8/10/2020	Sold	$1,300,000-7.1%$194/sqft
Source: Public Record Report a problem
5/28/2020	Pending sale	$1,400,000$209/sqft
Source: Keller Williams Realty #72655351 Report a problem
5/13/2020	Listed for sale	$1,400,000+409.1%$209/sqft
Source: Keller Williams Realty #72655351 Report a problem
2/2/1988	Sold	$275,000$41/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	--	$1,269,700
2024	--	$1,269,700 +5.6%
2023	--	$1,202,200
2022	--	$1,202,200 +75.2%
2021	--	$686,200 +5%
2020	$8,323	$653,300 +0.7%
2019	--	$648,600 +1.5%
2018	--	$639,200 +2.4%
2017	--	$624,300 0%
2016	--	$624,400
2015	--	$624,400 -7.3%
2011	--	$673,400 -0.4%
2010	--	$675,900 +4.3%
2009	--	$647,900 +16.4%
2008	--	$556,500 -3.3%
2007	--	$575,700 +34.6%
2006	--	$427,800 -5.6%
2005	--	$453,200 +26.6%
2004	--	$358,100 +6.6%
2003	--	$335,800 +14.4%
2001	$3,895	$293,500