7-9 Reed St

4,724 Sq. Ft.
$516 / Sq. Ft.
4,724
Sq. Ft.
$516
per Sq. Ft.

Description

$100k price reduction ! Attention developers a great condominium conversion opportunity on quiet one way street in north cambridge, property boasts a total of 6,593 square feet ready for conversion, with a potential sell out price of over $6.2 million (at $950 psf), or just keep this turn key cash cow with leases generating $143,760.00 per year with a future bonus potential to seek permits to finish off the 1,500sf lower level (partially semi finished vacant basement apartment) for additional rental...$100k price reduction ! Attention developers a great condominium conversion opportunity on quiet one way street in north cambridge, property boasts a total of 6,593 square feet ready for conversion, with a potential sell out price of over $6.2 million (at $950 psf), or just keep this turn key cash cow with leases generating $143,760.00 per year with a future bonus potential to seek permits to finish off the 1,500sf lower level (partially semi finished vacant basement apartment) for additional rental income! Some seller financing may be available See the attached document "rental/lease information sheet" & "condominium conversion pro forma"
  1. Listed by Charles Petitti • Coldwell Banker Realty - Newton

Property Details for 7-9 Reed Street

Town
Cambridge
Area
MA-Cambridge
Garage Spaces
0
Open Parking Spaces
1.00
Parking Spaces Total
1
LISTING CLOSED: 04/07/2021 12:00 AM

Property Details for 7-9 Reed Street

StatusSold
MLS #72777050
Days on Market38
Taxes$10,384 / year
HOA Fees-
Property TypeMulti Family
MLS TypeMulti-family / 4 Family
Year Built1910
CountyMiddlesex County

Location

Listing Courtesy of Coldwell Banker Realty - Newton, Charles Petitti

Sold By Coldwell Banker Realty - Newton, Charles Petitti

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Building Information for 7-9 Reed Street

Stories7Residences4Year Built1910Building Size-Lot Size0.09 AC / 3,807 SF

Payment Calculator

$13,247 per month

30 year fixed, 6.55% Interest

Principal and Interest

$12,382

Property Taxes

$865

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 7-9 Reed Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation
  • Current Financing: Conv. ARM
  • Living Area: 4724.0
  • Color: WHITE
  • Total Units: 4
  • Waterfront: No
  • Water View: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Gas Water Heater, Tankless Water Heater
  • Basement Features: Full, Partially Finished
  • Num of Baths: 6.0
  • Num of Full Baths: 5
  • Num of Half Baths: 1
  • Bathrooms Total Decimal: 5.50
  • Bathrooms Total Integer: 6
  • FireplaceYN: No
  • Fireplaces: 0
  • Interior Features: Unit 1 Rooms(Living Room, Dining Room, Kitchen, Sunroom), Unit 2 Rooms(Living Room, Kitchen), Unit 3 Rooms(Living Room, Unit 4 Rooms(Living Room
  • Laundry Features: Unit 3 Laundry Room, Unit 4 Laundry Room, Unit 1(Washer Hookup, Dryer Hookup)
Exterior Features
  • Construction: Frame
  • Exterior Features: Porch, Patio
  • Patio And Porch Features: Porch, Patio
  • Roof Material: Rubber
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive, Off-Street
  • Open Parking: Yes
  • Parking Features: Paved Drive, Off-Street
  • Parking Features: Off-Street
Utilities
  • Electric: 110 Volts, 220 Volts, 100 Amp Service
  • Heating: Unit 1(Forced Air, Gas), Unit 2(Forced Air, Unit 3(Forced Air, Unit 4(Forced Air
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Year Round: Yes
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Road Surface Type: Paved
Tax Information
  • Listing Terms: Seller W/Participate
  • Assessments: $1,950,400
  • Book: 52348
  • Lot: 153
  • Map: 192
  • Tax Year: 2020
  • Zoning: RES
Building / Association Information
Living Characteristics
  • Beds Total: 11
  • Total Living Levels: 7
Other Building Characteristics
  • Foundation: Stone
  • Foundation Area: 1500.0
  • Cooling Units: 0
  • Cooling Zones: 0
  • Heat Units: 3
  • Heat Zones: 3
Income / Expenses
  • GOI: $143,760.00
  • NOI: $143,760.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 1
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 2
  • Lease U3: Y
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 3
  • Lease U4: Y
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $11,980.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2.5
  • Other Agent Compensation: 0

Property History for 7-9 Reed Street

DateEvent & SourcePriceAppreciation
Apr 7, 2021

Sold

MLS PIN #72777050

$2,436,000
Feb 27, 2021

Contingent

MLS PIN #72777050

Jan 20, 2021

Listed (Active)

MLS PIN #72777050

$2,975,000
DateEvent & SourcePrice
04/07/2021

Sold

MLS PIN #72777050

$2,436,000
02/27/2021

Contingent

MLS PIN #72777050

01/20/2021

Listed (Active)

MLS PIN #72777050

$2,975,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 7-9 Reed Street

This home is within Cambridge School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
Peabody School
PublicPK to 5

Rindge Avenue Upper School
Public6 to 8

Cambridge Rindge and Latin School
Public9 to 12

Vassal Lane Upper School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty - Newton, Charles Petitti

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.