Marcus & Millichap recently completed the sale of a multifamily property located at 200-206 Franklin St. in Cambridge, MA for $2,750,000. The seven-unit property was marketed by SVPs investments Evan Griffth and Tony Pepdjonovic on behalf of the seller and they were able to procure a buyer.
According to Pepdjonovic, this transit-oriented property is just a short walk from Central Station on the Red Line and offers an excellent investment opportunity in one of Cambridge’s most desirable areas near MIT and Harvard with easy access to Boston.
Griffith also noted that due to high rental demand from college students and young professionals in the area, this property presents significant potential for increased returns as well as value-add opportunities.
Originally built in 1915, this three-story multifamily building features a mix of one and two-bedroom units. At the time of sale, it had a capitalization rate of 4.29%. This deal showcases Marcus & Millichap’s expertise in closing successful transactions for clients looking for prime properties like this one with strong potential for growth.
