$8,650,000
$9,000,000
3.9%For more information regarding the value of a property, please contact us for a free consultation.
27 Beds
13 Baths
15,294 SqFt
SOLD DATE : 12/16/2024
Key Details
Sold Price $8,650,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 15,294 sqft
Price per Sqft $565
MLS Listing ID 73253406
Sold Date 12/16/24
Bedrooms 27
Full Baths 13
Year Built 1992
Annual Tax Amount $53,046
Tax Year 2024
Lot Size 4,356 Sqft
Acres 0.1
Property Description
660-674 Cambridge St consists of a turnkey, four-story, brick building with fourteen units comprised of three 3-Bed/1-Bath units, eight 2-Bed/1-Bath units, two Studio units, and one commercial unit (Gufo – an Italian Restaurant and Bar). The residential units contain condo quality finishes, and an on-site laundry facility is available for the tenants. All apartments are separately metered for electricity, heat, and A/C which the tenants pay for directly. The Landlord pays for water & sewer for the residential units. Gufo commenced a 10-year lease in December of 2022, and has 8+ years remaining on their double net lease with one 5-year renewal option. Gufo's lease features attractive annual rent increases, and they reimburse their pro-rata share of all operating expenses. 660-674 Cambridge Street offers the opportunity to acquire a fully leased, turnkey investment in an exceptional, urban-infill location and is ideal for a potential buyer looking for income growth and strong returns.
Location
State MA
County Middlesex
Area Wellington-Harrington
Zoning BA
Direction Please Use GPS
Rooms
Basement Unfinished
Interior
Heating Central
Cooling Central Air
Appliance Washer, Dryer
Exterior
Community Features Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station, University
Roof Type Rubber
Garage No
Building
Lot Description Other
Story 4
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with Siyin Qu • eXp Realty
At Brad Hutchinson Real Estate, our main goal is simple: to assist buyers and sellers with making the best, most knowledgeable real estate decisions that are right for you. Whether you’re searching for houses for sale, commercial investment opportunities, or apartments for rent, our independent, committed staff is ready to assist you. We have over 60 years of experience serving clients in and around Melrose and Boston's North Shore.
193 Green Street, Melrose, Massachusetts, 02176, United States