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144 Spring Street

Sisy Qu Of EXP Realty Represents Buyer In $2.465M Multifamily Sale In Cambridge MA
SOLDMultiFamily

Sisy Qu Of EXP Realty Represents Buyer In $2.465M Multifamily Sale In Cambridge MA

144 Spring Street

$2,465,000

$578/SF

Building Size

4,263 SF

Asset Type

MultiFamily

Closing

Sep 4, 2024

AI

A 5-unit multifamily property at 144 Spring Street, Cambridge was sold for $2,465,000. The asset spans 4,263 square feet, equating to a price per unit of $493,000 and a price per square foot of $578. The property consists of two well-maintained buildings, including a triple-decker in the front and a 2-family building in the back. It is situated in East Cambridge near Kendall and features separate utilities along with in-unit laundry for most units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,465,000
  • Units: 5
  • Square Footage: 4,263
  • Price Per Unit: $493,000
  • Price Per Square Foot: $578
  • Buyer's Representative: Sisy Qu - EXP Realty
  • Seller's Representative: Bill Aibel - Coldwell Banker

The transaction involved Sisy Qu representing the buyer and Bill Aibel representing the seller, highlighting their roles in facilitating the deal. Both representatives are associated with reputable real estate agencies, ensuring a professional process. This sale illustrates a successful conclusion of negotiations between the parties involved in this investment opportunity.

Players

Bill Aibel

Coldwell Banker

Broker

$5.6M

vol

2 deals

Broker

Cambridge MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.44%

Cash-on-Cash

-1.84%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93