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$22,950,000
Est. payment /mo
95 Beds
93 Baths
50,621 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Active
Purchase Type For Sale
Square Footage 50,621 sqft
Price per Sqft $453
MLS Listing ID 73394144
Bedrooms 95
Full Baths 93
Year Built 2023
Annual Tax Amount $27,392
Tax Year 2024
Lot Size 2.980 Acres
Acres 2.98
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
The Residence at 850 offers investors a rare chance to acquire a newly constructed, fully stabilized Class A multifamily asset in the heart of Cape Cod. Completed in 2023, the luxury rental community features 44 two-bedroom and 9 one-bedroom units and has been operating through nearly two full years of stabilization. The property has matured into a high-performing, cash-flowing investment in one of Massachusetts' most supply-constrained, high-demand rental markets. Future upside remains in aligning rents with market levels and enhancing management efficiencies. Located along Massachusetts Route 28 in Hyannis—Barnstable County's largest and most dynamic village—the property benefits from regional connectivity, proximity to the Cape Cod Gateway Airport, commercial corridors, and new development. As Hyannis continues to revitalize, driven by public-private investments and a growing local economy, this asset is positioned to capitalize on long-term rental demand and rising housing costs.
Location
State MA
County Barnstable
Zoning RC-1
Direction Route 28
Interior
Flooring Laminate
Exterior
Exterior Feature Balcony
Roof Type Rubber
Total Parking Spaces 87
Garage No
Building
Lot Description Other
Story 3
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by Matthews Real Estate Investment Services, Inc.
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