Last Sold Price
11 beds4,066 sqft$362/sqft
7 Riggs St, Gloucester, MA 01930

Description

If you think you missed your opportunity to purchase this income producing property, well now is your chance. If you are looking for an investment or 1031 exchange then look no further than this multi-family property close to the ocean. One block from Stacey Boulevard and Gloucester's outer harbor and the famous Greasy pole, this property is located in close proximity to downtown and all the excitement this seacoast city has to offer. Per city of Gloucester records, this is a 4 to 8 unit building,...If you think you missed your opportunity to purchase this income producing property, well now is your chance. If you are looking for an investment or 1031 exchange then look no further than this multi-family property close to the ocean. One block from Stacey Boulevard and Gloucester's outer harbor and the famous Greasy pole, this property is located in close proximity to downtown and all the excitement this seacoast city has to offer. Per city of Gloucester records, this is a 4 to 8 unit building, but it is currently being utilized as a 5 unit building. Come explore the potential of this ideally located, income-producing property.
LISTING CLOSED: 08/31/2021 12:00 AM

Property Details for 7 Riggs Street

Status
MLS #
72815719
Days on Market
76
Taxes
$8,030 / year
HOA Fees
-
Property Type
MLS Type
Multi-family / 5+ Family - 5+ Units Up/Down
Year Built
1904
Town
Gloucester
Area
MA-Gloucester
Garage Spaces
0
Parking Spaces Total
3

Recent comparable sales

Median sold price

$1,450,000

Avg days on market

84

Sale-to-list ratio

94.8%

[Gloucester, MA]

9 comparable properties found

$980,000 | 13 1/2 Cleveland Street, Gloucester, MA 01930
1/32
1

$980,000

Sold 10/17/25

9
Bedrooms
4,330
Square Feet
0.11
Acres
a kitchen with a refrigerator a stove and white cabinets with wooden floor
1/22
2

$1,250,000

Sold 03/28/25

9
Bedrooms
4,400
Square Feet
0.12
Acres
$2,500,000 | 6 Back Shore Place, Gloucester, MA 01930
1/35
3

$2,500,000

Sold 09/19/25

6
Bedrooms
4,393
Square Feet
9.80
Acres
$1,800,000 | 35 Beach Road, Gloucester, MA 01930
1/43
4

$1,800,000

Sold 12/30/24

4
Bedrooms
3,930
Square Feet
0.31
Acres
5

$1,645,000

Sold 10/22/24

Unavailable
Bedrooms
6,028
Square Feet
0.46
Acres
a front view of a house with a yard
1/43
6

$1,160,000

Sold 04/30/26

9
Bedrooms
4,600
Square Feet
0.17
Acres
$1,275,000 | 26-28 Summer Street, Gloucester, MA 01930
1/43
7

$1,275,000

Sold 01/07/25

9
Bedrooms
4,138
Square Feet
0.12
Acres
$1,450,000 | 30 Grapevine Road, Gloucester, MA 01930
1/43
8

$1,450,000

Sold 12/18/25

4
Bedrooms
3,600
Square Feet
0.42
Acres
a front view of a house with a garden
1/43
9

$2,695,000

Sold 10/25/24

9
Bedrooms
6,633
Square Feet
1.6
Acres

Location

Sold By Shilalis Real Estate, James Kousoulos

Add your commute

Building Information for 7 Riggs Street

Stories9Residences5Year Built1904Building Size-Lot Size0.00 AC / 0 SF

Payment Calculator

$8,141 per month

30 year fixed, 6.55% Interest

Principal and Interest

$7,472

Property Taxes

$669

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 7 Riggs Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Tennis Court, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Marina, Public School, T-Station
  • Current Financing: Cash
  • Living Area: 4066.0
  • Color: Tan
  • Total Units: 5
  • Waterfront: No
  • Water View: No
  • Year Built Details: Renovated Since
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Unit 2(Range, Refrigerator), Oil Water Heater
  • Basement Features: Full, Concrete Floor, Unfinished Basement
  • Num of Baths: 7.0
  • Num of Full Baths: 6
  • Num of Half Baths: 1
  • Bathrooms Total Decimal: 6.50
  • Bathrooms Total Integer: 7
  • FireplaceYN: No
  • Fireplaces: 0
  • Interior Features: Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Unit 3 Rooms(Living Room, Unit 4 Rooms(Living Room
  • Laundry Features: Laundry Room, Unit 1(Washer & Dryer Hookup)
Exterior Features
  • Exterior Features: Porch
  • Lot Description: Gentle Sloping
  • Patio And Porch Features: Porch
  • Roof Material: Shingle
  • Waterfront Features: Beach Front, Ocean, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Off-Street
  • Parking Features: Off-Street
  • Parking Features: Off-Street
Utilities
  • Heating: Unit 1(Gas)
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Disclosures: Laundry is shared for 3 of the units. 2 of the units have in-unit laundry. Hot water is included in rent for all units. There is some knob and tube wiring remaining in the building.
Tax Information
  • Listing Terms: Contract
  • Tax ID: 1893578
  • Assessments: $640,100
  • Book: 25698
  • Tax Year: 2021
  • Zoning: R-5
Building / Association Information
Living Characteristics
  • Beds Total: 11
  • Total Living Levels: 9
Other Building Characteristics
  • Foundation: Granite
  • Heat Units: 5
Income / Expenses
  • Annual Expenses Source: Owner
  • GOI: $126,730.00
  • Insurance: $2,200.00
  • GRE: $5,000
  • RME: $2,000
  • NOI: $121,730.00
  • Operating Expense: $5,000.00
  • WSE: $800.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 1
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 2
  • Lease U3: N
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 3
  • Lease U4: Y
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $11,395.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2.0
  • Other Agent Compensation: 0

Property History for 7 Riggs Street

DateEvent & SourcePriceAppreciation
Aug 31, 2021

Sold

MLS PIN #72815719

$1,470,000
Jun 16, 2021

Contingent

MLS PIN #72815719

Apr 15, 2021

Listed (Active)

MLS PIN #72815719

$1,575,000
DateEvent & SourcePrice
08/31/2021

Sold

MLS PIN #72815719

$1,470,000
06/16/2021

Contingent

MLS PIN #72815719

04/15/2021

Listed (Active)

MLS PIN #72815719

$1,575,000

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

Public Records for 7 Riggs Street

Taxable ValueLand$132,000Additions$1,112,900Total$1,244,900
Tax Record2025$12,100 ($1,008 / month)
Home Facts
Baths5Total Finished SqFt4,491 SqFtAbove Grade Finished SqFt4,491 SqFtUnfinished Basement SqFt1,518 SqFtStories3Lot Size4,175 SqFtStyleMulti-Family Res (5+ Units)Year Built1904ZoningR-5CountyESSEXAPNGLOU M:0006 B:0002 L:0000

Schools near 7 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.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 7 Riggs Street, Gloucester, MA 01930
$1,470,000
11
4,066
0
$255,000
5
2,973
4,548
$257,000
3
824
1,986
3
1.5
1,751
5,296
$141,000
2
980
3,500
$420,000
3
1,219
2,252

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.

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.