Updated Dec 4, 2024
70 Thorndike Street Multifamily Sold For $1.615M With Broker Gloria Wei Of Cullen Real Estate
70 Thorndike Street
$1,615,000
$749/SF
Building Size
2,155 SF
Asset Type
MultiFamily
Closing
Sep 5, 2024
About this deal
AI
A multifamily home located at 70 Thorndike Street in Cambridge, MA, has been sold for $1,615,000. This two-unit property has a total of 2,155 square feet and is priced at $749 per square foot. Each unit features a total of 6 bedrooms and the property includes 6 parking spaces. The asset is situated near Kendall Square in the desirable East Cambridge neighborhood.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,615,000
- Units: 2
- Price Per Unit: $807,500
- Square Footage: 2,155
- Price Per Square Foot: $749
- Broker: Gloria Wei - Cullen Real Estate & Appraisal
The transaction involves Gloria Wei representing the seller in this real estate deal. The property has potential for a third unit, enhancing its investment appeal. The strategic location contributes to its attractiveness in the market.
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
9.82%
Cash-on-Cash
-2.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93