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

Property Image
SOLD
$1,775,000

Massachusetts

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MultiFamily3,184 SF
Sold 07/08/2024
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Property Image
SOLD

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

59 Seventh Street

See Similar Deals
MultiFamily3,184 SF
Sold 07/08/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$557
Total Square Footage:3,184 SF
Transaction Type:Sale

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

3 deals$5.7M volume
BROKER

Details

SOLD
IMAGE: Jesse Flynn & Mark Lesses DATE: 07/08/2024 ADDRESS: 59 Seventh Street MARKET: Cambridge, MA ASSET TYPE: Multifamily BUYER'S REP: Jesse Flynn - Conley SELLER'S REP: Mark Lesses (@MarkLesses) - Coldwell Banker (@ColdwellBanker) SALE PRICE: $1,775,000 UNITS: 3 ~ PPU: $591,667 SF: 3,184 ~ PPSF: $557 NOTE: A three-family property at 59 Seventh St in East Cambridge sold for $1.775 million, featuring six bedrooms, modern kitchens, and rear porches. Located near Kendall Square, the property includes a rare two-car garage and offers convenient access to downtown Boston, making it an attractive investment opportunity with long-term potential.

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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)-$6,306.20
Cash-on-Cash Return-1.27%
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