Last Sold Price
9 beds3,812 sqft$275/sqft
2-4 Riggs St, Gloucester, MA 01930

Description

DON'T WAIT on this Investor / Owner Occupied Opportunity! Completely renovated 4 Unit apartment building just off of the "Boulevard". 4 Meticulously renovated units that are occupied with Tenant at Will Agreements. All separately metered with updated electric and gas make this a manageable cash flow opportunity. Boilers were replaced in 2011. Water tanks have also been replaced / Units 1 & 4 in 2021, hot water tank for coin-op washer replaced in 2020. Each unit features a newer kitchen including...DON'T WAIT on this Investor / Owner Occupied Opportunity! Completely renovated 4 Unit apartment building just off of the "Boulevard". 4 Meticulously renovated units that are occupied with Tenant at Will Agreements. All separately metered with updated electric and gas make this a manageable cash flow opportunity. Boilers were replaced in 2011. Water tanks have also been replaced / Units 1 & 4 in 2021, hot water tank for coin-op washer replaced in 2020. Each unit features a newer kitchen including cabinets and appliances, modern renovated baths, refinished wood floors. The list of improvements is endless: a Coin - Op washer dryer in the basement / 2021, back rubber roof replaced in 2021, Mansard shingles replaced in 2013, electric from the street and 5 electric panels in 2011, windows replaced in 2011 and 2012, both front cement stairs and left retaining wall replaced in 2020, commercial gutters and plastic fascia boards all new in 2021. Cash Flow and NOI on request. Cap Rate of 6.53%
LISTING CLOSED: 11/10/2022 12:00 AM

  1. Listed by Kevin Street • Keller Williams Realty Evolution

Property Details for 2-4 Riggs Street

Status
MLS #
73041182
Days on Market
2
Taxes
$6,847 / year
HOA Fees
-
Property Type
MLS Type
Multi-family / 4 Family
Year Built
1900
Town
Gloucester
Area
MA-Gloucester
Garage Spaces
0
Open Parking Spaces
.00

Location

Listing Courtesy of Keller Williams Realty Evolution, Kevin Street

Sold By Sovereign Realty Advisors, LLC, Fred Newton

Add your commute

Building Information for 2-4 Riggs Street

Stories7Residences4Year Built1900Building Size-Lot Size0.09 AC / 3,920 SF

Payment Calculator

$5,908 per month

30 year fixed, 6.55% Interest

Principal and Interest

$5,337

Property Taxes

$571

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 2-4 Riggs Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Park, Medical Facility, Highway Access, Marina, Public School, T-Station, Sidewalks
  • Current Financing: Cash
  • Living Area: 3812.0
  • Color: Gray
  • SqFt with Basement: No
  • Total Units: 4
  • Property Condition: Unit 1 Remodeled, Unit 2 Remodeled, Unit 3 Remodeled
  • Waterfront: No
  • Water View: Yes
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Washer, Dryer, Unit 1(Range, Dishwasher, Refrigerator, Vent Hood), Unit 2(Range, Unit 3(Range, Unit 4(Range, Gas Water Heater, Tank Water Heater
  • Basement Features: Full, Interior Access, Concrete Floor, Unfinished Basement
  • Num of Baths: 4.0
  • Num of Full Baths: 4
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 4.00
  • Bathrooms Total Integer: 4
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood, Vinyl, Carpet, Unit 1(undefined), Unit 2(Wood Flooring, Wall to Wall Carpet), Unit 3(Wood Flooring), Unit 4(Wood Flooring
  • Interior Features: Unit 1(Lead Certification Available, High Speed Internet Hookup, Upgraded Cabinets, Bathroom With Tub & Shower, Internet Available - Broadband), Unit 2(Upgraded Cabinets, Unit 3(Pantry, Unit 4(Upgraded Cabinets, Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Unit 3 Rooms(Living Room, Dining Room, Kitchen, Office/Den), Unit 4 Rooms(Living Room
  • Window Features: Insulated Windows
Exterior Features
  • Construction: Frame
  • Exterior Features: Porch, Deck
  • Lot Description: Easements
  • Patio And Porch Features: Porch, Deck
  • Roof Material: Shingle, Rubber
  • Waterfront Features: Beach Front, Harbor, Ocean
  • Waterview Features: Bay, Ocean
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Open Parking: Yes
Utilities
  • Cooling: Unit 1(None), Unit 4(None)
  • Cooling: No
  • Electric: 110 Volts, 220 Volts, Circuit Breakers, Individually Metered
  • Heating: Unit 1(Forced Air, Gas, Individual, Unit Control), Unit 2(Hot Water Radiators, Unit 3(Hot Water Baseboard, Hot Water Radiators, Unit 4(Forced Air
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • UFFI: Unknown
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Road Responsibility: Public Maintained Road
  • Road Surface Type: Paved
  • Disclosures: Unit Photos Were Taken At Time Of Apartment Renovations. Net Operating Income Field Is Incorrect And Mls Pin Is Working To Rectify.
Tax Information
  • Listing Terms: Contract
  • Assessments: $583,700
  • Book: 31151
  • Lot: 47
  • Map: 2
  • Tax Year: 2022
  • Zoning: R-5
Building / Association Information
Living Characteristics
  • Beds Total: 9
  • Total Living Levels: 7
Other Building Characteristics
  • Foundation: Stone, Brick/Mortar, Granite, Irregular
  • Cooling Units: 0
  • Cooling Zones: 0
  • Heat Units: 4
  • Heat Zones: 4
Income / Expenses
  • Annual Expenses Source: Owner
  • GOI: $85,500.00
  • Gross Scheduled Income: $.00
  • HTE: $0
  • RFS: $0
  • NOI: $82,500.00
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: N
  • Levels U1: 2
Unit 2 Description
  • Floor U2: 2
  • Lease U2: N
  • Levels U2: 2
Unit 3 Description
  • Floor U3: 2
  • Lease U3: N
  • Levels U3: 2
Unit 4 Description
  • Floor U4: 1
  • Lease U4: N
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $6,875.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2.5
  • Other Agent Compensation: 2.5

Property History for 2-4 Riggs Street

DateEvent & SourcePriceAppreciation
Nov 10, 2022

Sold

MLS PIN #73041182

$1,050,000
Sep 29, 2022

Under Agreement

MLS PIN #73041182

Sep 29, 2022

Contingent

MLS PIN #73041182

DateEvent & SourcePrice
11/10/2022

Sold

MLS PIN #73041182

$1,050,000
09/29/2022

Under Agreement

MLS PIN #73041182

09/29/2022

Contingent

MLS PIN #73041182

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 2-4 Riggs Street

This home is within Gloucester School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Beeman Memorial Elementary School
PublicK to 5

Ralph B O'Maley Innovation Middle School
Public6 to 8

Gloucester High School
Public9 to 12

East Veterans Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

New listings in 01930

$525,000 | 5 Grapevine Road, Gloucester, MA 01930
1/17
New

$525,000

1
Bedrooms
607
Square Feet
0.12
Acres
$1,675,000 | 64 Rocky Neck Avenue, Unit A, Gloucester, MA 01930
1/8
New

$1,675,000

3
Bedrooms
1,085
Square Feet
$499,900 | 8 Sylvan Street, Gloucester, MA 01930
1/36
Open: 8/15 11:00AM - 12:30PMNew

$499,900

3
Bedrooms
1,132
Square Feet
0.05
Acres
$1,250,000 | 79 Dennison Street, Gloucester, MA 01930
1/41
Open: 8/15 11:30AM - 01:00PMNew

$1,250,000

5
Bedrooms
1,773
Square Feet
Unavailable
Acres
$799,000 | 20 Shepherd Street, Gloucester, MA 01930
1/41
Open: 8/15 11:00AM - 01:00PM

$799,000

6
Bedrooms
2,904
Square Feet
0.11
Acres
$797,000 | 137 Prospect Street, Gloucester, MA 01930
1/42
Open: 8/14 05:00PM - 07:00PM

$797,000

3
Bedrooms
1,568
Square Feet
0.04
Acres
$749,900 | 26 Millett Street, Gloucester, MA 01930
1/42
Open: 8/15 11:00AM - 01:00PM

$749,900

7
Bedrooms
2,261
Square Feet
0.12
Acres
$699,900 | 47 Wheeler Street, Gloucester, MA 01930
1/27
Open: 8/15 11:00AM - 01:00PM

$699,900

2
Bedrooms
1,980
Square Feet
0.20
Acres
$1,975,000 | 9 Oxford Road, Gloucester, MA 01930
1/42
Open: 8/15 12:00PM - 02:00PM

$1,975,000

5
Bedrooms
5,111
Square Feet
0.43
Acres

Nearby home values

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties make no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Keller Williams Realty Evolution, Kevin Street

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. 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., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS 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.