Harvard Square Apartment
For Sale
$12,000,000
Pending
1039 Massachusetts Avenue, Cambridge, MA 02138
26-unit apartment building in the Harvard Square neighborhood.
Property Size20,317 SF
Days on Market165
Property Features for 1039 Massachusetts Avenue
General Information
Standard status
Pending
Size
20,317 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
BB-HSQ
Taxes and HOA fees
Annual Taxes
$67,374
Amenities
493
6
1
Under Agreement
CN254297,CN207284
No
Public Records
Approximate
4057616
20317
96
Square Feet
26
Public Sewer
Other
Public
3
0.26
Acres
Concrete Perimeter, Brick/Mortar, Granite
11159
Building Details
Year Built
1920
Stories
6
Listed By:
Peter Lane
(978) 689-5431
Source:
Peterlanehomes.idxbroker
Added: Apr 24
Changed: Sep 14
Last Checked: Oct 4 at 6:27AM
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 University Building, located at 1039 Massachusetts Avenue in Cambridge's Harvard Square neighborhood, features 26 apartment units. This six-story building, equipped with an elevator and a basement, was originally constructed in 1920. The property has been well-maintained, with recent capital improvements including upgrades to building systems, elevator modernization, roof replacement, and enhancements to the entryway and common areas. The apartment finish levels vary, offering a mix of original, partially-renovated, and fully-renovated units.
Key Highlights
- Prime Harvard Square location with a Walk Score of 97 (Walker's Paradise)
- Well‑maintained building with substantial recent capital improvements
- Mix of original, partially‑renovated, and fully‑renovated units offering value‑add and rent upside potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$476,295
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,525,900
$9.5M
Cap Rate 7%
$6,804,214
$6.8M
Cap Rate 9%
$5,292,167
$5.3M
Market Conditions
NOI Build-Up for 20,317 SF
Gross rent
$902.1K $44.40/SF
− Vacancy
−$36.1K −$1.78/SF
EGI
$866.0K $42.62/SF
− OpEx
−$389.7K −$19.18/SF
NOI
$476.3K $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%
$9,525,900
Cap Rate 7%
$6,804,214
Cap Rate 9%
$5,292,167
Alternative Uses
Best Use
Apartment 5plus
$6.80M
$5.95M – $7.94M
NOI $476,295 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.66M
$13.71M – $18.27M
NOI $1,096,439 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,636
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 26-unit apartment building in the Harvard Square neighborhood.
Where is this apartment building located?
The property is located at 1039 Massachusetts Avenue Cambridge, MA.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Prime Harvard Square location with a Walk Score of 97 (Walker's Paradise); Well‑maintained building with substantial recent capital improvements; Mix of original, partially‑renovated, and fully‑renovated units offering value‑add and rent upside potential
