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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.

More Info

Basic Information

  • Gross Income $204,912
  • Lot Features Corner Lot, Level
  • Mls StatusNew

Location

  • Address35-37 Sargent Street
  • Building Number35-37
  • CountyEssex
  • StateMA
  • StreetSargent Street
  • TownGloucester
  • Zip01930

Utilities

  • Sewer Public Sewer
  • Water Source Public

Amenities

  • AmenitiesPublic Transportation, Highway Access

Water Body

  • Miles to Beach2
  • Waterfront Features 1 to 2 Mile To Beach

Tax Information

  • Tax Assessed Value $441,500
  • Tax Year 2026
  • Taxes$4,110

Basic Information

  • List Price$995,000
  • MLS Number73595656
  • Modification Date10/27/2026
  • Property SubType5-9 Family

Property

  • Acreage0.17

Exterior

  • RoofShingle

Property Information

  • Building Area Source Other
  • Living Area 5,919
  • Lot Size Square Feet 7,298
  • Lot Size Units Acres
  • Square Feet5,919

Other

  • Date Listed10/27/2026
  • Farm Land Area Units Square Feet

Parking

  • Parking Features Off Street
  • Parking Spaces6

Rooms

  • Bathroom10
  • Bathrooms Total Decimal 8
  • Bedrooms16
  • Full Bath6
  • Half Baths4

Building

  • Building Area Units Square Feet
  • FoundationConcrete Perimeter, Granite
  • Levels 9
  • Rooms29
  • Stories9
  • Units6
  • Year Built1900
  • Year Built Details Approximate, To Be Built
  • Year Built Source Public Records

Map Location

Listed by Mark Ventimiglia of Vadala Real Estate

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. 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. MLSPIN 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.

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