NOT LISTED FOR SALE

359 Cambridge St Cambridge, MA 02141

East Cambridge Neighborhood

Estimated Value: $4,208,032

17 Beds
9.5 Baths
8,183 Sq Ft
$514/Sq Ft Est. Value

Last Sold June 01, 2022

Last sale price $4,075,000 $498 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $23,554/month

8 Days on Market

Highlights

  • City View
  • 4-minute walk to Lechmere Station
  • 2-minute walk to Silva Park
  • 0.11 Acre Lot

About This Home

As of June 2022

NINE UNITS in great overall condition LESS THAN HALF A MILE TO THE GREEN LINE. Sellers have FLOOR PLANS & CONDO DOCS FOR ALL UNITS, but the deed(s) have not been recorded. E-Z Condo Conversion! Incl 2 retail storefronts & offices on the first floor. A striking center split natural oak staircase divides six residential units (3 on each side). Features incl exposed brick, oak hardwood floors and eat in kitchens. There is a 1 bdrm, a 2 bedroom, two-3 bdrm units and two-4 bdrm units. Great potential roof deck in rear of property. Most units have gas stoves. Two retail storefronts in the front and additional office space in the back of the property that could be changed to rsdntl. Recent major improvements include a new steam boiler in 2019 and a new rubber roof in 2020. Amazing location on foot, bike or transit… rated a WALKER’S PARADISE Walk Score of 93. BIKER'S PARADISE Bike Score of 91. Green Line, Red & Orange Line are less than a mile. FANTASTIC LOCATION. Great Condo Convrsn!

Last Listed By

Steve Bremis

Steve Bremis Realty Group Listed on: 03/09/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,621

Year Built

  • Built in 1910

Lot Details

  • 4,792 Sq Ft Lot

Interior Spaces

  • 8,183 Sq Ft Home
  • City Views

Bedrooms and Bathrooms

  • 17 Bedrooms

Listing and Financial Details

  • Total Actual Rent $21,675
  • Assessor Parcel Number 400293

Community Details

Overview

  • 9 Units
  • Property has 1 Level

Building Details

  • Electric Expense $7,198
  • Insurance Expense $9,107
  • Water Sewer Expense $6,000
  • Operating Expense $88,158
  • Net Operating Income $171,942

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,621

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • Year Built: 1910
  • Buyer Agency: 2.125
  • Buyer Agency Type: %
  • Transaction Broker: 2.125
  • Transaction Broker Type: %
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Stories: 11

Interior Features

  • Fireplace YN: No
  • Total Bedrooms: 17
  • Full Bathrooms: 9
  • Half Bathrooms: 1
  • Total Bathrooms: 10
  • Total Bathrooms: 9.5
  • Living Area: 8183
  • Stories Total: 11
  • MAIN LO: AN5028
  • LIST PRICE PER Sq Ft: 488.81
  • PRICE PER Sq Ft: 497.98
  • MAIN SO: M59500

Exterior Features

  • Foundation Details: Other
  • View: City View(s)
  • View YN: Yes
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Fee Information

  • Water Sewer Expenses: 6000

Lot Info

  • Parcel Number: 400293
  • Zoning: Mxd Use
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.11
  • Lot Size Area: 0.11
  • Lot Size Sq Ft: 4791.6
  • Lot Size Units: Acres
  • LOT SIZE: 5006
  • PAGE: 291

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 13621
  • Tax Book Number: 27368

Multi Family

  • Electric Expense: 7198
  • Gross Income: 260100
  • Insurance Expense: 9107
  • Net Operating Income: 171942
  • Number Of Units Total: 9
  • Operating Expense: 88158
  • Total Actual Rent: 21675
  • LEVELS 1: 1
  • LEVELS 4: 1
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 4: Y
  • LEASE 3: Y
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 1: 1
  • FLRS 4: 3
  • FLRS 3: 2
  • FLRS 2: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 9, 2022
Closed on
Jun 1, 2022
Sold by
Jacobs Charles and Hajer Rob
Bought by
359 Cambridge Re Grp Llc
Seller's Agent
Steve Bremis
Steve Bremis Realty Group
Buyer's Agent
Amy Gworek
William Raveis R.E. & Home Services
List Price
$3,999,900
Sold Price
$4,075,000
Premium/Discount to List
$75,100
1.88%
Total Days on Market
8
Current Estimated Value
$4,208,032

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$133,032
Avg. Annual Appreciation
1.30%
Original Mortgage
$3,600,000
Outstanding Balance
$3,454,778
Interest Rate
5.1%
Mortgage Type
Commercial
Estimated Equity
$780,279

Purchase Details

Listed on
Mar 9, 2022
Closed on
Apr 3, 2022
Sold by
East Cambridge Llc
Bought by
Jacobs Charles and Hajer Rob
Seller's Agent
Steve Bremis
Steve Bremis Realty Group
Buyer's Agent
Amy Gworek
William Raveis R.E. & Home Services
List Price
$3,999,900
Sold Price
$4,075,000
Premium/Discount to List
$75,100
1.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,600,000
Outstanding Balance
$3,454,778
Interest Rate
5.1%
Mortgage Type
Commercial
Estimated Equity
$780,279

Purchase Details

Closed on
Jun 6, 1997
Sold by
K & A Rt
Bought by
East Cambridge Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$286,500
Interest Rate
7.98%
Mortgage Type
Commercial

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
359 Cambridge Re Grp Llc $4,075,000 None Available
Jacobs Charles -- None Available
East Cambridge Llc $342,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 359 Cambridge Re Grp Llc $3,600,000
Previous Owner East Cambridge Llc $540,000
Previous Owner East Cambridge Llc $286,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/01/2022 06/01/22 Sold $4,075,000 +1.9% $498 / Sq Ft
03/18/2022 03/18/22 Pending -- -- --
03/09/2022 03/09/22 For Sale $3,999,900 -- $489 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 -- $3,351,500 $1,067,000 $2,284,500
2024 -- $3,358,200 $1,123,500 $2,234,700
2023 $0 $2,400,900 $1,153,100 $1,247,800
2022 $0 $2,249,600 $1,079,400 $1,170,200
2021 $0 $2,328,500 $1,053,000 $1,275,500
2020 $0 $2,110,600 $1,053,000 $1,057,600
2019 $0 $1,898,500 $915,800 $982,700
2018 $0 $1,711,400 $796,500 $914,900
2017 -- $1,537,300 $756,000 $781,300
2016 -- $1,326,300 $540,000 $786,300
2015 -- $1,167,500 $464,400 $703,100
2014 -- $1,073,600 $432,000 $641,600
Source: Public Records

Agents Affiliated with this Home

  • Steve Bremis

    Seller's Agent in 2022

    Steve Bremis

    Steve Bremis Realty Group

    (617) 828-1070

    1 in this area

    197 Total Sales

    Steve Bremis
    Section Image
  • Amy Gworek

    Buyer's Agent in 2022

    Amy Gworek

    William Raveis R.E. & Home Services

    (617) 571-2390

    1 in this area

    43 Total Sales

    Amy Gworek
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72951001

MLS Property Information Network (MLS PIN)

APN: CAMB-000023-000000-000040

Massachusetts Middlesex County Cambridge 02141 East Cambridge

359 Cambridge St, Cambridge, MA

Homes for Sale in Cambridge, MA

This home is located at 359 Cambridge St, Cambridge, MA 02141 since 09 March 2022 and is currently estimated at $4,208,032, approximately $514 per square foot. This property was built in 1910. 359 Cambridge St is a home located in Middlesex County with nearby schools including Community Charter School of Cambridge and Boston Children's School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MLS Property Information Network (MLS PIN) The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. 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. 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.

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