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Sold on 08/22/2022

10 Oakes Ave, Gloucester, MA 01930

  • $4,051,000

    Last sold 08/22/2022 for $3.3M

  • 14

    bed

  • 11

    bath

  • 9,501

    Sqft ($347/Sqft)

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About 10 Oakes Ave

Property type Multi-family
Neighborhood
Year built 1907
HOA fee $0/month
Lot size 0.43 Acre
Movoto estimate
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?"
Listed by
Listing Agent - Daniel Cutler
Listing Office - Bay Colony Realty
Source: MLS Property Information Network, Inc. mls logo
MLS#73009381 • last updated 3 years ago
Movoto checked MLS Property Information Network, Inc. for data 12 minutes ago
Overview
Heating Unit 1(Electric)
Levels/Style 4
MLS # 73009381
Type Residential Income
Status Closed
SubType 5-9 Family
SqFt 9501
Lot Size (SqFt) 18524
Lot Size (Acres) 0.43
Annual Property Tax 28662
Year Built 1907
Interior
Total # of Bathrooms 11
# Full Baths 11
Total # of Bedrooms 14
Basement Full, Finished
Total # of Rooms 39
Flooring Varies Per Unit
Appliances Tankless Water Heater, Water Heater(Varies Per Unit), Water Heater, Utility Connections Varies Per Unit
# Fireplaces 3
Window Features Screens
Exterior
Foundation Granite
Roof Shingle, Rubber
Construction Frame
Parking Desc Paved Drive, Off Street, Assigned, Paved
# Parking Spaces 18
Exterior Features Sprinkler System, Varies Per Unit
Patio/ Porch Porch, Patio
Lot Desc Corner Lot, Gentle Sloping
Amenities / Utilities
Sewer Private Sewer
Green Features: Energy Efficiency Varies Per Unit
Utilities Varies Per Unit
Electricity Circuit Breakers, 200+ Amp Service, Individually Metered
Water Source Public
Location
View Scenic View(s)
Waterfront Waterfront, Beach Front, Ocean, Ocean, Walk To, 1/10 To 3/10 To Beach, Beach Ownership(Public)
County Essex
Community Features Public Transportation, Shopping, Walk/Jog Trails, Laundromat, Bike Path, Conservation Area
Zoning R-20
APN M:0166 B:0046 L:0000, 1901806
Directions From Intersection Of Raymond St, Norman Ave, And Magnolia Ave, Take Fuller St To Oakes Ave
Multifamily Details
Rent Includes Unit 1(Water, Hot Water)
Net Operating Income 182880
Operating Expense 70620
Total Actual Rent 21125
Financial Data Source Owner, Projected
Gross Income 253500
Lot/ Land Details
Road Frontage Public, Private Road
Road Responsibility Public Maintained Road, Private Maintained Road
Road Surface Paved
$4.05M
Range: $3.48M-$4.61M
Last 30 days 
  • Dec 2022
    mls logo MLS # 73009381
  • Dec 9, 2022 Sold
    $3,300,000 (-5.7%)
  • Aug 25, 2022 Pending
    —
  • Jul 8, 2022 Listed
    $3,500,000
  • Oct 2021
    mls logo MLS # 72873603
  • Oct 11, 2021 Back On Market
    —
  • Sep 15, 2021 Contingent
    —
  • Jul 29, 2021 Listed
    $3,500,000
  • Year Property taxes Tax assessment
  • 2025
    $33,516
    $3,444,600
  • 2024
    $33,516 -0.8%
    $3,444,600 +7.96%
  • 2023
    $33,788 +17.9%
    $3,190,600 +30.57%
  • 2022
    $28,662 +3.2%
    $2,443,500 +9.48%
  • 2021
    $27,765 +4.9%
    $2,231,900 +3.93%
  • 2020
    $26,480
    $2,147,600
  • 10 Oakes Ave
    $3.3M
  • Magnolia
    $1.13M +29% y/y
  • 01930
    $749K -54% y/y
  • Gloucester
    $849K -17% y/y
No chart available
Statistics calculated by Movoto

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6/10
West Parish
public Grades K-5
Gloucester School District
3/10
Ralph B O'maley Middle School
public Grades 6-8
Gloucester School District
3/10
Gloucester High School
public Grades 9-12
Gloucester School District
Source: GreatSchools.org © 2026. All rights reserved.

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