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Gloucester Portfolio 3 Multifamily Properties Offered at $2,400,000 in Gloucester, MA
INVESTMENT HIGHLIGHTS
- 8-Unit Multifamily Portfolio
- Many Capital Improvements
- (1) One bedroom and (7) Two Bedroom Floorplans
- Desirable Gloucester Location
EXECUTIVE SUMMARY
Northeast Private Client Group is pleased to present The Millett and Maplewood Portfolio located on 38 Millett Street, 38R Millett Street, and 19 Maplewood Avenue in Gloucester, MA.
This portfolio consists of three separate multi-family properties totaling (1) One and (7) Two bedroom floorplans. Owner has gut rehabbed 3 out of the 8 units with another 3 units being renovated with new flooring and countertops. A new owner has the opportunity to add value by renovating the remaining 2 units and increasing rents to market levels.
Tenants enjoy coin operated laundry in 38 Millett and 19 Maplewood and off street parking at 19 Maplewood.
All interested and qualified parties can tour the property during scheduled appointments and obtain additional information upon request.
This portfolio consists of three separate multi-family properties totaling (1) One and (7) Two bedroom floorplans. Owner has gut rehabbed 3 out of the 8 units with another 3 units being renovated with new flooring and countertops. A new owner has the opportunity to add value by renovating the remaining 2 units and increasing rents to market levels.
Tenants enjoy coin operated laundry in 38 Millett and 19 Maplewood and off street parking at 19 Maplewood.
All interested and qualified parties can tour the property during scheduled appointments and obtain additional information upon request.
PROPERTY FACTS
| Price | $2,400,000 | Number of Properties | 3 |
| Price / SF | $248.63 / SF | Individually For Sale | 0 |
| Cap Rate | 6.56% | Total Building Size | 9,653 SF |
| Sale Type | Investment | Total Land Area | 0.23 AC |
| Status | Active |
| Price | $2,400,000 |
| Price / SF | $248.63 / SF |
| Cap Rate | 6.56% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 9,653 SF |
| Total Land Area | 0.23 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 38 Millett St, Gloucester, MA 01930 | Multifamily | 3,495 SF | 2022 | - |
| 19 Maplewood Ave, Gloucester, MA 01930 | Multifamily | 3,200 SF | 1900 | - |
| 38R Millett St, Gloucester, MA 01930 | Multifamily | 2,958 SF | 1900 | - |
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CONTACTS
-
Drew Kirkland -
Francis Saenz -
James Casey -
Patrick Wheeler -
Anthony Rakauskas -
Northeast Private Client Group
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Gloucester Portfolio
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