Cambridge Multifamily Building For
For Sale
$26,000,000
Pending
1010 Massachusetts Avenue, Cambridge, MA 02138
53-unit apartment building in Harvard Square with development potential.
Property Size41,366 SF
Days on Market165
Property Features for 1010 Massachusetts Avenue
General Information
Standard status
Pending
Size
41,366 SF
Total Parking Spaces
27
Property subtype
Residential Income
Zoning
BB-1
Taxes and HOA fees
Annual Taxes
$137,290
Amenities
477
6
1
Under Agreement
CN254297,CN207284
No
Public Records
Approximate
4056955
41366
7
Square Feet
54
Public Sewer
Other
Public
0.63
27
Acres
Concrete Perimeter, Brick/Mortar, Granite
27253
53
Building Details
Year Built
1900
Stories
6
Listed By:
Peter Lane
(978) 689-5431
Source:
Peterlanehomes.idxbroker
Added: Apr 24
Changed: Sep 20
Last Checked: Oct 4 at 6:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Peter Lane
Investment Insights
Based on property information with market context.
The Cantabrigia Building, located at 1010 Massachusetts Avenue in the Harvard Square neighborhood of Cambridge, features 53 apartment units. The property includes an eight-story building with elevator service and a 27-space surface parking lot, offering significant as-of-right development potential. Constructed in the early 1900s, the building has been well-maintained, with the current owner investing in numerous upgrades. These include building systems and window upgrades, elevator modernization, roof replacement, and enhancements to common areas and the entryway. The apartments feature a mix of original, partially-renovated, and fully-renovated units, with varying finish levels. This offers potential for rent increases and strategic unit renovations. The location is considered very bikeable with a bike score of 89, a walker's paradise with a walk score of 97, and has excellent transit with a transit score of 85.
Key Highlights
- Prime Harvard Square location with a Walk Score of 97, making it a Walker's Paradise.
- Elevatored building featuring 53 apartment units and a 27‑space surface parking lot.
- Substantial as‑of‑right development potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$969,751
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,395,020
$19.4M
Cap Rate 7%
$13,853,586
$13.9M
Cap Rate 9%
$10,775,011
$10.8M
Market Conditions
NOI Build-Up for 41,366 SF
Gross rent
$1.84M $44.40/SF
− Vacancy
−$73.5K −$1.78/SF
EGI
$1.76M $42.62/SF
− OpEx
−$793.4K −$19.18/SF
NOI
$969.8K $23.44/SF
Area
Cambridge, MA
Vacancy
4.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,395,020
Cap Rate 7%
$13,853,586
Cap Rate 9%
$10,775,011
Alternative Uses
Best Use
Apartment 5plus
$13.85M
$12.12M – $16.16M
NOI $969,751 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$31.89M
$27.90M – $37.21M
NOI $2,232,382 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 02138, MA
37,982
Population
16,132
Households
2.4
Avg Household Size
30
Median Age
86%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
14,067
Density / Sq Mi
$122,040
Median Household Income
$46,436
Median Earnings
$2,799
Median Rent
$1,088,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - 53-unit apartment building in Harvard Square with development potential.
Where is this apartment building located?
The property is located at 1010 Massachusetts Avenue Cambridge, MA.
What is the asking price?
The asking price for this property is $26,000,000.
What are key features of this property?
This property features: Prime Harvard Square location with a Walk Score of 97, making it a Walker's Paradise.; Elevatored building featuring 53 apartment units and a 27‑space surface parking lot.; Substantial as‑of‑right development potential.
