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Barbara Currier Of Coldwell Banker Represents Buyer In Cambridge Multifamily Sale For $1.49M

Property Image
SOLD
$1,490,000

Massachusetts

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MultiFamily2,468 SF
Sold 08/21/2024
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Property Image
SOLD

Barbara Currier Of Coldwell Banker Represents Buyer In Cambridge Multifamily Sale For $1.49M

6 Eighth Street

See Similar Deals
MultiFamily2,468 SF
Sold 08/21/2024
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$603
Total Square Footage:2,468 SF
Transaction Type:Sale

6 Eighth Street, located in Cambridge, MA, is a multifamily asset that has been impeccably renovated and sold for $1,490,000. The property features 2 units across a total of 2,468 square feet, resulting in a price per unit of $745,000 and a price per square foot of $604. It was updated in 2018, showcasing modern kitchens, bathrooms, and common areas, and benefits from its proximity to the Charles River, MIT, and public transit.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,490,000
  • Units: 2
  • Price per Unit: $745,000
  • Square Footage: 2,468
  • Price per Square Foot: $604
  • Buyer's Representative: Barbara Currier - Coldwell Banker
  • Seller's Representative: Ronald Ponte - Ponte Realty

The transaction involved Barbara Currier representing the buyer, while Ronald Ponte represented the seller in this multifamily property deal. The property was sold within the East Cambridge market, reflecting activity in a competitive area with significant amenities and accessibility.

Players

Barbara Currier
3 deals$4M volume
BROKER

Ronald Ponte
3 deals$4.8M volume
BROKER

Details

SOLD
IMAGE: Ronald Ponte & Barbara Currier DATE: 08/21/2024 ADDRESS: 6 Eighth Street MARKET: Cambridge, MA ASSET TYPE: Multifamily BUYER'S REP: Barbara Currier (@BarbaraCurrier)) - Coldwell Banker (@ColdwellBanker) SELLER'S REP: Ronald Ponte - Ponte Realty SALE PRICE: $1,490,000 UNITS: 2 ~ PPU: $745,000 SF: 2,468 ~ PPSF: $604 NOTE: Impeccably renovated two-family home in East Cambridge, sold for $1,490,000 at $604 per sq ft. The property, updated in 2018, features modernized kitchens, bathrooms, and common areas, and is conveniently located near the Charles River, MIT, and public transit.

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Deal Type
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)-$5,293.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,063.36
Annual Debt Service$84,760.32