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177 Hancock Street

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

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

177 Hancock Street

$2,426,000

$550/SF

Building Size

4,405 SF

Asset Type

MultiFamily

Closing

Sep 4, 2024

AI

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

Compass

Broker

$12.3M

vol

5 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

6.54%

Cash-on-Cash

-1.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93