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10 Oakes Ave

Gloucester, MA 01930
  • $3,500,000
  • STATUS: Active
  • MLS #: 72873603
UPDATED: 58 min ago
$3,500,000
  • 14
    BEDS
  • 0.43
    ACRES
  • 11
    BATHS
  • 0
    1/2 BATHS
  • 9,501
    SQFT
  • $368
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1907
County:
Area:

School Ratings & Info

Listing courtesy of Daniel Cutler of Bay Colony Realty.

Description

RARE OPPORTUNITY to own an 11-unit building with stunning, unobstructed, oceanfront views. SHORE DRIVE MANOR sits at the tip of Magnolia Point. Once a hotel frequented by high-society, the property still retains features of a time gone by. Beautiful woodwork, paneling, beamed ceilings, stained glass, hardwood floors, fireplaces, and built-ins. Units are fully occupied and seller has updated Buderus Oil Boilers, water heater, and electric. The literature from the former hotel puts it best: "When you can relax at the waters edge caressed by Cape Ann's cool breezes, relax in the warm sun, take short walks to the beach, be centrally located to explore Cape Ann's wonders...who could ask for anything more?"

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2021-12-05T14:07:56.813.
www.parrottrealtygroup.com/homes/119844001
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10 Oakes Ave Gloucester, MA 01930

  • Price: $3,500,000
  • Status: Active
  • On Site: Days
  • Updated: 58 min ago
  • MLS #: 72873603
14
Beds
11
Baths
0
½ Baths
0.43
Acres
9,501
SQFT
$368
$/SQFT
1907
Built
Neighborhood:
Magnolia
County:
Essex
Area:
Magnolia
Property Description
RARE OPPORTUNITY to own an 11-unit building with stunning, unobstructed, oceanfront views. SHORE DRIVE MANOR sits at the tip of Magnolia Point. Once a hotel frequented by high-society, the property still retains features of a time gone by. Beautiful woodwork, paneling, beamed ceilings, stained glass, hardwood floors, fireplaces, and built-ins. Units are fully occupied and seller has updated Buderus Oil Boilers, water heater, and electric. The literature from the former hotel puts it best: "When you can relax at the waters edge caressed by Cape Ann's cool breezes, relax in the warm sun, take short walks to the beach, be centrally located to explore Cape Ann's wonders...who could ask for anything more?"
Exterior Features

Beach Description OceanWalk To Beach Miles To 1/10 To 3/10 Beach Ownership Public Beachfront Yes Color Gray Construction Frame Exterior ShinglesAsbestos Exterior Features PorchPatioSprinkler SystemScreensVaries Per Unit Foundation Granite Lot Description CornerPaved DriveGentle SlopeScenic View(S) Parking Features Off-StreetAssignedPaved Driveway Parking Spaces 18 Road Type PublicPrivatePavedPublicly Maint.Privately Maint. Roof Material Asphalt/Fiberglass ShinglesRubber Water View Features Ocean Waterfront Ocean Waterfront Flag Yes Waterview Flag Yes

Interior Features

Basement Yes Basement Features FullFinished Bedrooms Unit1 2 Bedrooms Unit2 2 Energy Features Varies Per Unit Fireplaces 3 Fireplaces Unit1 0 Fireplaces Unit2 0 Flooring Varies Per Unit Floors Unit1 0 Floors Unit2 1 Full Baths Unit1 2 Full Baths Unit2 2 Half Baths Unit1 0 Half Baths Unit2 0 Heat Units 3 Heating Unit1 Electric Heating Unit2 Oil Hot Water TankVaries Per UnitOther (See Remarks) Levels 4 Levels Unit1 1 Levels Unit2 1 Rooms 8 Rooms Unit1 4 Rooms Unit2 4

Property Features

Amenities Public TransportationShoppingWalk/Jog TrailsLaundromatBike PathConservation Area Apod Available Yes Assessments 2231900.00 Disclosure No Disclosures Oil Boiler And indirect Water Heater About 8 Years Old. 1 Unit Has Electric Baseboard Heat1 Unit Has Own Furnace (10 Yrs Old). Title V Ordered. Property is Located in Flood Zone "Ve". Total Rent Reflects Estimated Gross Monthly Rent For 2022. Electric Features Circuit Breakers200 AmpsIndividually Metered Expenses Source Owner Provided Expenses Year End 12/20 Gross Operating Income 194725 Lead Paint Unknown Lease Unit1 Y Lease Unit2 Y Lender Owned No Multifamily Type 5-9 Family Net Operating Income 107509 Rent Description Unit1 WaterHot Water Rent Description Unit2 WaterHot Water Rent Unit1 1750 Rent Unit2 1750 Sewer Private Sewerage Short Sale Lender App Required No Sq Ft Disclosures Room Sizes Are Approximate And Not Guaranteed. Sq Ft Source Public Record Tax Year 2021 Taxes 27765.00 Utility Connections Varies Per Unit Water City/Town Water Year Built Description Approximate Year Built Source Public Record Year Round Yes Zoning R-20

Listing information © 2021 MLS Property Information Network. All information is deemed reliable but should be independently verified.
Listing provided courtesy of Daniel Cutler of Bay Colony Realty.


The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2021-12-05T14:07:56.813.
 
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Listing courtesy of Daniel Cutler of Bay Colony Realty.