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
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
8.94%
Cash-on-Cash
-2.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93