CAMBRIDGE, Mass. — Marcus & Millichap has arranged the $6.55 million sale of a 10-unit multifamily property located at 23-25 Hammond Street in Cambridge, directly across from Harvard University.
The transaction marks the first time the property has been brought to market in more than a century, according to brokers involved in the deal. The asset, situated in the highly sought-after Agassiz neighborhood, attracted interest due to its size, location, and potential for future value creation.
“This property represents a rare opportunity, coming to market for the first time in over a century,” said Evan Griffith, senior managing director. “It is the epitome of a true trophy asset with ten large units and significant value-add potential.”
Griffith, along with Tony Pepdjonovic, exclusively marketed the property on behalf of the seller and secured a private buyer.
Built in 1925, the building spans more than 13,000 square feet and includes a mix of one-, two-, and five-bedroom apartments, as well as five off-street parking spaces. Its proximity to Harvard Square and the MBTA Red Line provides tenants with convenient access to public transit, retail, and dining options.
“Located directly across from Harvard University, this property benefits from exceptional access to amenities and transit, which drives strong rental demand from students and faculty,” Pepdjonovic said.
The sale underscores continued investor interest in well-located multifamily assets in Cambridge, particularly those near major academic institutions and transit hubs.
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