About this home
Great investment opportunity in downtown Gloucester. This existing two-family property is currently occupied by two long-term tenants, providing immediate rental income while you move forward with an approved expansion project. All city approvals are in place for approximately 4,200 square feet of additional building area, comprising four townhouse-style units, each with three bedrooms and 1.5 baths. As an added benefit, the seller has already obtained a quote from a modular construction company for the four proposed units. The level and mostly cleared lot is ready for the next stage of development. Continue collecting rent from the existing units while completing the construction process. Centrally located near downtown amenities and the MBTA Commuter Rail, this property offers a compelling combination of current income and future growth potential.
Listing last checked: Listing updated:
Listed by Mark Ventimiglia · Vadala Real Estate · MLS #73595656
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Details at a glance
Interior2 property facts
- Rooms
- 29
- Basement
- Not reported
Building5 property facts
- Style
- 5-9 Family
- Year built
- 1900
- Parking
- 6
- Foundation
- Concrete Perimeter, Granite
- Roof
- Shingle
Land & utilities5 property facts
- Lot size
- 0.17 acres
- Water
- Public
- Sewer
- Public Sewer
- Pool
- Not reported
- Zoning
- R-5
Financial2 property facts
- Annual taxes
- $4,110
- Assessment year
- 2026
Location
Estimated monthly cost
Explore costs at the $995,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$5,374 / monthAdjust
- Principal & interest
- $5,031
- Property tax
- $343
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $4,110. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
More property insights
Automated value estimate $920,000
Estimated range $800,000–$1,070,000.
Automated estimates are not appraisals or guarantees of market value.
Request a professional market analysisPhoto-based condition insights
Overall presentation: average
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About 35-37 Sargent St
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