Quick Stats:

1 Beds / 1 Baths • 670 Sq Ft • Condo • Sold in 2024 • Listed for $369,000 • Sold for $395,000

This listing was the first leg of a 1031 exchange. My clients were a family with multiple kids who had owned this little 1 bed condo in Watertown for a long time. The property provided below average rental yields and the property was completely paid off.

In addition the building was built in the 70s and seemed to have ongoing special assessments every handful of years. They decided they wanted a property with better returns and less headaches. 

With my help, we were able to completely updated the property at a low cost, stage it and market it. We brought in multiple offers, which we leveraged against each other to drive up the price to almost $400,000 - an excellent price point for this building. 

Ultimately we wrapped these gains into a new property in Cambridge, which was in a new building with an excellent tenant already in place. Ultimately this investor will have little/no special assessments in the short to medium term, a 50% reduction in property tax rate due to moving to Cambridge, higher quality tenants, and a 50%+ increase in rent each month. Talk about a major win!

Thinking about selling? Learn more about my services here.

Have questions? Feel free to call me at 617-833-7457 or email me at Sage@CambridgeSage.com