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11-Unit Multifamily Portfolio Sold For $6.4M

Apr 13, 2017 | Reprints | Print

Webster Investments LLC of San Francisco has sold an 11-unit multifamily portfolio near Cambridge’s Kendall Square for $6.4 million.

The sale includes two adjacent buildings at 107-113 Webster Ave. and 9 Hamlin St.

NAI Hunneman Executive Vice President Carl Christie and Assistant Vice President Dan McGee represented the seller and procured the buyer. The price is approximately $580,000 per unit.

The sale attracted heavy interest from investors, with more than 50 tours and 18 offers.

“This was a rare opportunity to acquire a brick apartment building in Cambridge. The large units and strong existing cash flow drew heavy interest from investors,” Christie said in a statement.

B&T Daily