Quick Stats:

4 Beds / 2 Baths • 2,112 Sq Ft • Multi-Family • Sold in 2024 • Listed for $999,000 • Sold for $1,095,000

This sale was the first part of a 1031 exchange for a long-time investor client of mine. This property was purchased about 5 years ago for $680,000. The property has created quite a few headaches, as the second floor unit ultimately had a squatter situation. 

It took many, many months and a lot of attorney fees to ultimately get the squatters to leave the upstairs unit. And then my investor client needed to put about $100,000 into the upstairs unit to bring it back to life. I worked closely with my client on the upstairs unit finishes and I believe it came out great - take a look at the pictures!

Ultimately, we were able to bring in a number of offers, which we leveraged against each other and the home sold for close to $1.1M, a great price for a 2-family in this part of Medford. We then leveraged the proceeds from the sale towards a 3-family in Somerville. Ultimately we upgraded from a 2 to a 3-family, from a 2-family that was partially updated, to a 3-family that was completely updated. We almost doubled monthly rental income with more room for growth and we completely changed the quality of tenants we could bring in for this investor in future years, saving my investor client tons of stress and time.

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