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.
Next showing @ Open House on Sunday, June 14, 2026 12:30 PM - 2:00 PM Excellent opportunity for both investors and owner-occupants! This beautifully renovated two-family home is located just moments from downtown Gloucester. Recent updates include a new roof, replacement windows, and upgraded heating systems. Unit 1 has been completely renovated with brand-new kitchen & bathroom, while Unit 2 has also been tastefully updated. The property features separate heating systems, hot water, and updated electrical utilities for each unit. A recently installed fire alarm system provides added peace of mind. Conveniently located within walking distance of Gloucester's vibrant restaurants, shops, harbor, and train station.Both units are currently vacant, offering immediate rental income potential or flexibility for owner occupancy.Don't miss this turnkey investment opportunity in a prime Gloucester location!
Rare opportunity to own a spacious two-family home in one of Gloucester's most desirable neighborhoods, just moments from Good Harbor Beach. With 5,111 square feet of living space, this property offers an exceptional opportunity for owner-occupants, multi-generational living, or investment. The owner's unit features 3,283 square feet, including an impressive 800+ square foot open-concept great room that includes the kitchen, dining rm, and living rm. The large primary suite offers a walk-in closet, two additional closets, and a luxurious bath with a large walk-in shower and soaking tub. A second bedroom, full bath, half bath, and office complete the space. Enjoy outdoor living on the large composite wraparound deck reserved exclusively for the owner's unit. The second-floor unit offers 1,828 square feet with three bedrooms, a full bath, beautiful hardwood floors, spacious living area, and large eat-in kitchen. Close to beaches, shopping, dining, and all that Cape Ann has to offer.
The Inn at Babson Court is a 1741 post & beam Colonial overlooking historic Gloucester Harbor and the Fisherman's Memorial. The property is currently used as an inn/multi family. Currently there are 3 "apartments" and 2 suites (no kitchen). Public record states 4 family. Exposed beams and historic charm throughout. Many possibilities exist for its future uses. Plenty of parking behind house including a 2 car garage (ADU?). 4-100amp electric service panels plus house meter. Common decks and patio, covered outside sitting area. Beach and harbor across the street!
Rare opportunity to own 2 beautifully renovated condominiums in the heart of Downtown Gloucester! Perfectly located just moments from restaurants, shopping, entertainment, beaches, the waterfront, and train station. This unique property offers the ultimate blend of coastal charm, modern updates, and investment potential, with no car needed. Each thoughtfully updated unit features 1 bedroom, 1 bath, and a spacious open-concept living/dining & kitchen area designed for comfortable daily living and effortless entertaining. New kitchens with updated cabinetry, countertops, and appliances pair perfectly with beautifully renovated baths and energy-efficient mini-split systems for year-round comfort. The 2nd floor unit includes a small private deck, the perfect spot to unwind. Whether a smart investment, summer retreat, owner-occupied rental opportunity, or multi-generational living this property checks every box. Also offered for sale as 2 separate condos.
Rare opportunity to own a five-unit multifamily property in the heart of downtown Gloucester. Ideally located close to shops, restaurants, and the waterfront, this building offers beautiful views of Our Lady of Good Voyage, Gloucester Harbor, and Ten Pound Island. The property consists of five residential units, four of which will be delivered vacant, providing immediate flexibility for an owner-occupant or investor. One unit will remain occupied, lease in place til 3/31/27. The building features classic coastal character and strong long-term rental potential in one of Cape Ann’s most desirable locations. Newer roof and siding, all separate utilities, one off-street parking space, potential for more parking in rear.
3 family investment property located in central Gloucester within close proximity to downtown, Burnham's playground and T station. Consists of 1 BR, 2 BR, and 1 BR apartments. 2 units have long term TAW tenants and one unit is currently vacant. Separate utilities for each unit. Enclosed fenced yard and patio area. 1 car off-street parking with room to create1-2 more spaces. Newer roof 2020. Low maintenance aluminum siding and landscaping.
Investors, developers, and homesteading enthusiasts — take note! Rare opportunity to acquire a 3.7-acre parcel in highly desirable West Gloucester. Includes a spacious three-family home on 2.44 acres plus an additional 1.26-acre lot, sold together. The existing property offers immediate income potential with three units — ideal for multi-generational living or rental income. Beyond investment appeal, this land invites a self-sufficient, homesteading lifestyle: think gardens, chickens, fruit trees, and room to roam — all minutes from town. Zoned R20 with potential for 5 ANR lots (subject to buyer due diligence and approvals), the property also holds significant development potential. Whether you’re creating a private homestead or exploring subdivision opportunities, the possibilities are abundant. Don’t miss this unique chance to own a rare and versatile piece of land in prime Gloucester!
Gloucester is located in Massachusetts. Gloucester, Massachusetts has a population of 29,814. Gloucester is less family-centric than the surrounding county with 25.04% of the households containing married families with children. The county average for households married with children is 30.06%.
The median household income in Gloucester, Massachusetts is $82,984. The median household income for the surrounding county is $86,684 compared to the national median of $69,021. The median age of people living in Gloucester is 50.2 years.
The average high temperature in July is 79.9 degrees, with an average low temperature in January of 18.1 degrees. The average rainfall is approximately 49 inches per year, with 43.6 inches of snow per year.
