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177 Hancock Street Multifamily Sold For $2.43M With Brokers John Petrowsky & Denman Drapkin Group

Property Image
SOLD
$2,426,000

Massachusetts

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MultiFamily4,405 SF
Sold 09/04/2024
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Property Image
SOLD

177 Hancock Street Multifamily Sold For $2.43M With Brokers John Petrowsky & Denman Drapkin Group

177 Hancock Street

See Similar Deals
MultiFamily4,405 SF
Sold 09/04/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$550
Total Square Footage:4,405 SF
Transaction Type:Sale

A rare 2-family home located at 177 Hancock Street in Cambridge, MA, has been sold for $2,426,000. The property, featuring 4,405 sq. ft. of living space, includes 8 bedrooms and 2.5 baths. Built in 1900, it showcases historic architectural details and was held by the same family for five generations.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,426,000
  • Units: 2
  • Price Per Unit: $1,213,000
  • Square Footage: 4,405
  • Price Per Square Foot: $551
  • Date of Sale: 09/04/2024
  • Market: Cambridge, MA

Representatives for the transaction included John Petrowsky and Denman Drapkin Group from Compass, facilitating the sale of this distinctive property that features high ceilings, multiple fireplaces, and a fenced garden.

Players

John Petrowsky
5 deals$12.3M volume
BROKER

Details

SOLD
IMAGE: John Petrowsky DATE: 09/04/2024 ADDRESS: 177 Hancock Street MARKET: Cambridge, MA ASSET TYPE: Multifamily BROKERS: John Petrowsky & Denman Drapkin Group - Compass (@Compass) SALE PRICE: $2,426,000 UNITS: 2 ~ PPU: $1,213,000 SF: 4,405 ~ PPSF: $551 NOTE: A rare 2-family home in Mid-Cambridge, MA, sold for $2.43M, featuring 4,405 sq. ft. of unaltered living space with 8 bedrooms, 2.5 baths, and historic architectural details. Built in 1900 and held by the same family for five generations, the property includes high ceilings, multiple fireplaces, and a fenced garden.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,619.07
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