3-Unit Residential Income
113 Pleasant Street Gloucester, MA 01930
113 Pleasant Street, Gloucester, MA, 01930
$599,000
For Sale
$599,000
Three separate apartments include one vacant unit, each with separate utilities, plus an enclosed fenced yard and patio.
Property Size1,800 SF
Price / SF$332.78
Days on Market156
Property Features for 113 Pleasant Street
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
North Shore's Gold Coast Realty
Listed by
Lane Team
(617) 731-4644
Source
Hammondre
Added: Feb 15 Updated: Jul 21 at 12:14AM Checked: Jul 21 at 8:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of North Shore's Gold Coast Realty
Investment Insights
Based on property information with market context.
This 3-unit residential income property consists of one 1-bedroom unit, one 2-bedroom unit, and one additional 1-bedroom unit. Two units are leased to long-term tenants, while one unit is currently vacant. The building provides separate utilities for each unit.
Set within central Gloucester and close to downtown, Burnham’s playground, and the T station, the property also includes an enclosed, fenced yard and patio area. Off-street parking is available for one car, with additional space on site for creating one to two more parking spaces.
Recent improvements include a roof installed in 2020. Exterior updates include low-maintenance aluminum siding and landscaping, supporting a lower-maintenance ownership experience.
Set within central Gloucester and close to downtown, Burnham’s playground, and the T station, the property also includes an enclosed, fenced yard and patio area. Off-street parking is available for one car, with additional space on site for creating one to two more parking spaces.
Recent improvements include a roof installed in 2020. Exterior updates include low-maintenance aluminum siding and landscaping, supporting a lower-maintenance ownership experience.
Key Highlights
- 3‑family property in central Gloucester with one vacant unit plus two occupied units
- Unit mix: 1 BR, 2 BR, and 1 BR apartments
- Separate utilities for each unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.4k | $25.20 |
| − Vacancy | −$2.0k | −$1.13 |
| EGI | $43.3k | $24.07 |
| − OpEx | −$13.0k | −$7.22 |
| NOI | $30.3k | $16.85 |
1,800 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$433.2K
$379.0K – $505.4K
NOI $30,323 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$391.0K
$342.2K – $456.2K
NOI $27,372 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three separate apartments include one vacant unit, each with separate utilities, plus an enclosed fenced yard and patio.
Where is this triplex located?
The property is located at 113 Pleasant Street Gloucester, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3‑family property in central Gloucester with one vacant unit plus two occupied units; Unit mix: 1 BR, 2 BR, and 1 BR apartments; Separate utilities for each unit
