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Minka Vanbeuzekom & Don Neuwirth Facilitate $1.755M Sale Of Cambridge Multifamily

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SOLD
$1,755,000

Massachusetts

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MultiFamily2,250 SF
Sold 05/22/2024
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Property Image
SOLD

Minka Vanbeuzekom & Don Neuwirth Facilitate $1.755M Sale Of Cambridge Multifamily

24 Copley Street

See Similar Deals
MultiFamily2,250 SF
Sold 05/22/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$780
Total Square Footage:2,250 SF
Transaction Type:Sale

A well-maintained two-family residence in Cambridge's Neighborhood Nine area sold for $1,755,000. The property offers investment potential or owner-user income and features 11 rooms, 4 bedrooms, and 2 baths. It spans 2,250 square feet and underwent major renovations in 2008, including off-street parking, back porches, and proximity to amenities and public transportation. The address of the property is 24 Copley Street located in Cambridge, MA.

Summary of transaction details:

Minka Vanbeuzekom from Coldwell Banker represented the buyer in this transaction, while Don Neuwirth from Centre Realty Group represented the seller. Both agents played critical roles in facilitating the sale of the property at 24 Copley Street. The deal involved a well-established two-family residence, appealing to both investors and potential owner-users.

Players

Don Neuwirth
1 deal$1.8M volume(617) 962-1480
BROKER

Minka Vanbeuzekom
Coldwell Banker
1 deal$1.8M volume(617) 596-1547
BROKER

Details

SOLD
IMAGE: Minka Vanbeuzekom & Don Neuwirth DATE: 05/22/2024 ADDRESS: 24 Copley Street MARKET: Cambridge, MA ASSET TYPE: Multifamily BUYER'S REP: Minka Vanbeuzekom - Coldwell Banker (@ColdwellBanker) SELLER'S REP: Don Neuwirth - Centre Realty Group (@CentreRealty) SALE PRICE: $1,755,000 UNITS: 2 ~ PPU: $877,500 SF: 2,250 ~ PPSF: $780 NOTE: A well-maintained two-family residence in Cambridge's Neighborhood Nine area sold for $1,755,000, offering investment potential or owner-user income. With 11 rooms, 4 bedrooms, and 2 baths, the property underwent major renovations in 2008 and includes off-street parking, back porches, and proximity to amenities and public transportation.

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

$93,600.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,235.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,319.60
Annual Debt Service$99,835.14