25-27 Marney Street
Multifamily | 6 Units | $783,333/unit
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multifamily investment property located at 25-27 Marney Street in the Wellington-Harrington neighborhood of Cambridge, Massachusetts (the “Property”). Situated in an incredible high-density, urban-infill, East Cambridge neighborhood, the highly walkable location is a short walk from Kendall Square, Inman Square, the Green Line at the Union Square Station, MIT, MGH, the Charles River Esplanade, and Downtown Boston.
25-27 Marney Street is a three-story multi-family building that contains a total of six (6) units, comprised of three (3) 4-Bedroom/1-Bathroom units and three (3), 3-Bedroom/1-Bathroom units with 6,588 square feet of living space in 8,804 square feet of total gross area on 0.09-acres of land. The Property has undergone extensive renovations since acquisition, offering a turnkey investment with condo-quality upgrades throughout. Units feature newer kitchens with white quartz countertops, modern cabinets, and stainless-steel appliances, including gas stoves and dishwashers, hardwood floors throughout, newer bathrooms, in-unit washers and dryers (in select units), forced hot-air as well as central air conditioning. Each of the units are separately metered for gas heat, hot water and electric. Additionally, there is one (1), tandem off-street parking space as well as an on-site laundry facility for those who do not have in-unit washer/dryer.
25-27 Marney Street offers the opportunity to acquire a fully leased investment Property with upside in an exceptional, urban-infill location. The subject property is ideal for a potential buyer looking for income growth and strong investment returns. The Cambridge submarket continues to accelerate thanks to continued commercial and infrastructure development in the area and rents are expected to rise over the coming years.
Investment highlights
DYNAMIC CAMBRIDGE LOCATION
The Property is well located on Marney Street, seconds from both Hampshire Street and Cambridge Street in the high-density, urban-infill neighborhood of Wellington-Harrington. The Property is 0.25-miles from Kendall Square, 0.35-miles from Inman Square, and 0.7 miles from Union Square. The location is an easy walk to the employment centers of Kendall Square and Downtown Boston, multiple public transportation options, and numerous shopping, dining, entertainment, and outdoor recreation options. Notable amenities within walking distance include Cambridgeside Galleria, Twin Cities Plaza (Star Market & Marshalls), Target, Whole Foods, MIT, Kendall Square, Union Square, and the Charles River Esplanade.
Additionally, the Property is located approximately 1-mile from the US headquarters of Philips Research, HubSpot and EF Education as well as Cambridge Crossing (formerly Northpoint Cambridge), a 45-acre masterplanned development that will include 4.5 million square feet of commercial, residential and retail space.
An impressive 63,800+ people live within a 1-mile radius of the Property with an average household income of $168,053. More than 512,300 people live within a 3-mile radius of the Property with an average household income of over $173,593.
Cambridge consistently rates as one of the best real estate markets in the region due to its high-density neighborhoods, quality-of-life amenities, public transportation access, educational institutions, and proximity to the employment centers of Kendal Square and Boston.
TRANSIT ORIENTED LOCATION
The location in the Wellington-Harrington neighborhood provides convenient access to the Green and Red Lines, multiple MBTA bus routes, Kendall Square, Downtown Boston, I-93, and US Route 1.
T-STOPS:
• Kendall/MIT Station (Red Line): 0.8 miles
• Union Square Station (Green Line): 0.8 miles
• Lechmere Station & East Somerville Station (Green Line): 0.8 miles
MBTA BUS:
• Cambridge St @ Berkshire St (Route 69): 0.2 miles
• Hampshire St @ Cardinal Medeiros Ave (Route 85 & CT2): 0.4 miles
• Broadway @ Hampshire St (Routes 64 & 68): 0.4 miles
EZ-RIDE SHUTTLE:
• EZ-Ride Shuttle: 0.8 miles (EZ-Ride is a free service for area residents and employees that connects Kendall Square and East Cambridge with North Station in Downtown Boston).
COMMUTER RAIL:
• North Station: 1.6 miles
HIGHWAY:
• McGrath O’Brien Highway (Route 28): 0.5 miles
• Interstate 93 & US Route 1: 1.3 miles
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