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9-Unit Cambridge Apartments Trade Off-Market
Marcus & Millichap closed the sale of a nine-unit multifamily property in Cambridge, MA for $5,000,000. The team of senior managing directors Evan Griffth and Tony Pepdjonovic represented the seller and procured the buyer.
“This was a very successful off-market sale for our client, as he was able to use the equity in this property to purchase a large apartment complex via a 1031 exchange, resulting in roughly a 50% increase in yearly cash flow,” said Tony Pepdjonovic.
Griffith added, “This well-maintained, nine-unit asset presents an attractive investment opportunity in Cambridge’s exceptionally stable market, fueled by constant rental demand from top-tier universities and consistently low vacancy rates.”
Built in 1920, the three-story property is located at 323-327 Columbia St. and features two- and three-bedroom apartments. It is within walking distance of Central Square and Union Square MBTA Stations, near MIT and Harvard University, and surrounded by a mix of shops, restaurants and cultural amenities.
- ◦Sale/Acquisition
