31 Mugford St, Marblehead, MA

This weekends open house has been canceled due to the sellers having an accepted offer. **NEW PRICE — NOW OFFERED AT $849,000.** A compelling new opportunity in the heart of Old Town Marblehead, 31 Mugford Street combines an exceptional location, historic character and flexible investment potential at an attractive new price. Set on one of Old Town’s most picturesque streets, this distinctive 1700s residence is just moments from Marblehead Harbor, yacht clubs, shops, cafes, boutiques and some of the town’s most popular restaurants. The location offers the walkability, coastal charm and neighborhood character that make Marblehead’s Historic District so highly sought after. Currently configured as a three-family property, 31 Mugford presents a variety of possibilities for investors, owner-occupants, multigenerational households or buyers looking to offset ownership costs through rental income. Two units are expected to be delivered vacant this summer, creating an opportunity for immediate occupancy, renovation, repositioning or the potential to establish new market-rate rents.The property retains the charm and character of its historic origins, with sun-filled interiors and period details throughout. Adding even greater value is a detached two-car garage, a true rarity in Old Town, which currently provides additional rental income and enhances the property’s overall investment profile.Equally appealing is the private Beacon Hill-style outdoor space, a charming and intimate retreat tucked behind the residence. With its classic urban garden feel, the space offers a peaceful setting for outdoor dining, entertaining or simply enjoying a quiet escape in the heart of Old Town.At its newly reduced price of **$849,000**, 31 Mugford Street represents an increasingly rare chance to acquire a multi-family property with multiple income streams in one of the North Shore’s most desirable seaside communities. Whether held as a long-term investment, occupied while generating rental income or thoughtfully improved over time, this is a property with location, flexibility and long-term potential.