M
arcus & Millichap (NYSE: MMI) has sold a 7-unit multifamily property in Cambridge's highly sought-after area near MIT and Harvard. Located just a three-minute walk from Central Station on the Red Line, this transit-oriented property offers an attractive investment opportunity with strong rental demand driven by college students and young professionals.

    Built in 1915, the three-story building features a mix of one and two-bedroom units. The area is home to top institutions like MIT and Harvard, as well as major employers such as Google and Amazon. A vibrant mix of restaurants, shops, and landmarks adds to its appeal.

    The property was sold for $2,750,000 with a capitalization rate of 4.29% at the time of sale. Tony Pepdjonovic and Evan Griffith, senior vice presidents of investments, exclusively marketed the property on behalf of the seller and procured the buyer.