85 Prospect St, Gloucester, MA
$ 1,195,000
Property Attributes
  • MLS#73116196
  • TypeMulti-Family
  • CountyESSEX
  • CityGloucester
  • Zip01930
  • Style5-9 Family
  • Year Built1900
  • Taxes$ 7477
  • Price$ 1,195,000
  • Bedrooms7
  • Full Bathrooms6
  • Half Bathrooms0
  • Sqr Footage3564
  • Lot Size6,098 SqFt
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
Property Description

This 2-story six (6) unit Gable style multi family has a total rentable square footage of 3,564 with a total gross square footage of 4,600 with a unit mix of five (5) one-bedrooms and one (1) two-bedroom. The property boasts original maintained wide pine floors and sheathing from King George’s forest in New Hampshire and is stamped with hand forged nails. All units have decorative fireplaces and custom built-in cabinetry. Large backyard with porch and grass areas. At the back of the building is a large shed for storage. 85-87 Prospect offers investors the opportunity to own in downtown Gloucester while bringing undervalued rents to market through strategic renovations.

Price History
5/25/2023 Listed $1,195,000

General Features

Appliances Gas Water Heater
Basement Partial, Bulkhead
Building Area Units Square Feet
Buyer Agent Compensation 2%
Buyer Agent Compensation Type %
City Gloucester
Community Features Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Highway Access, T-Station
Compensation Based On Net Sale Price
County Essex
Directions Prospect is between Pleasant and Elm
Electric 220 Volts
Exterior Features Balcony, Storage, Garden
Facilitator Compensation not offer
Garage Y/N No
Gross Income 102300
Home Warranty Y/N No
Lot Size Square Feet 5888
Net Operating Income 67512
Operating Expense 34788
Patio/Porch Features Porch, Deck, Patio
Property SubType 5-9 Family
Property Type Residential Income
Roof Shingle
Senior Community Y/N No
Sewer Public Sewer
Standard Status Active
Status Active
Street Name Prospect St
Sub-Agency Relationship Offered No
Tax Annual Amount 7477
Tax Assessed Value 706000
Tax Year 2023
Total Actual Rent 8525
Total Rooms 19
Total Units 6
Waterfront Features Beach Front, Ocean, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
Waterfront Y/N No
Year Built 1900
Year Built Details Unknown/Mixed
Year Built Source Public Records
Zoning R-5

Interior Features

Fireplace Y/N Yes
Flooring Hardwood, Pine
Full Baths 6
Total Baths 6
Total Bedrooms 7
Total Fireplaces 6
Total Stories 7

Exterior Features

Living Area 3564
Building Area Total 3564
Foundation Details Stone
Lot Features Other
Lot Size Acres 0.14
Lot Size Area 0.14
Lot Size Units Acres
Open Parking Y/N Yes
Parking Features On Street
Road Frontage Type Public
Spa No
Water Source Public


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 01930

AVG $1.16M
AVG $5,622
AVG 73
Year Built
AVG 1936