Ellery Apartments in Cambridge sold for $6.65 million. Family-owned for over 40 years, the 14-unit property sold to a developer hoping to create luxury condos in the desirable area.

Built in 1880, the building occupies a .25-acre lot and includes nine parking spaces.

The building’s 84-86 Ellery St. location offers walkability to Harvard University, the Harvard MBTA Station and local businesses.

Evan Griffith and Tony Pepdjonovic of Marcus and Millichap facilitated the transaction.

“We’re excited to watch the transformation of this building and parcel, as the buyer plans to take advantage of the new Cambridge zoning changes by expanding the footprint of the structure and developing 20 high-end condominiums,” said Pepdjonovic in a press release.