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59 Seventh Street

Jesse Flynn Of Conley Represents Buyer In $1.775M Multifamily Sale In Cambridge, MA
SOLDMultiFamily

Jesse Flynn Of Conley Represents Buyer In $1.775M Multifamily Sale In Cambridge, MA

59 Seventh Street

$1,775,000

$557/SF

Building Size

3,184 SF

Asset Type

MultiFamily

Closing

Jul 8, 2024

AI

A three-family property located at 59 Seventh Street in Cambridge, MA, has been sold. The transaction was completed for $1,775,000. The multifamily asset comprises a total of 3,184 square feet and features six bedrooms, modern kitchens, and rear porches. Additionally, it includes a rare two-car garage and is situated near Kendall Square, offering convenient access to downtown Boston.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,775,000
  • Units: 3
  • Price Per Unit: $591,667
  • Square Footage: 3,184
  • Price Per Square Foot: $557

Jesse Flynn from Conley represented the buyer in this transaction, while the seller was represented by Mark Lesses from Coldwell Banker. The deal showcases a notable investment opportunity with long-term potential in the East Cambridge market.

Players

Jesse Flynn

Conley

Broker

$5.7M

vol

3 deals

Broker

Cambridge MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.94%

Cash-on-Cash

-2.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93