Cambridge Multifamily Investment
178 Richdale Ave Cambridge, MA 02140
178 Richdale Ave, Cambridge, MA, 02140
$3,800,000
Pending
For Sale
$3,800,000
Pending
Six-unit building near Avon Hill and Porter Square neighborhoods.
Property Size6,279 SF
Lot Size0.24 Acres
Days on Market89
Property Features for 178 Richdale Ave
General Information
- Standard status
- Pending
- Size
- 6,279 SF
- Lot size
- 0.24 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1920
Listing agency
Horvath & Tremblay
(617) 213-7880
Listed by
Tess Kohanski · License #9528992
(617) 213-7880
Source
Elliman
Added: Apr 24 Updated: Jul 10 at 1:18PM Checked: Jul 21 at 8:57AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Located between the Avon Hill and Porter Square neighborhoods, 178 Richdale Ave is a three-story building containing six units. The unit mix consists of three 4-bedroom/1-bathroom units and three 2-bedroom/1-bathroom units. The building features 6,279 square feet of gross living area and 8,404 square feet of gross area, situated on a 10,506 sqft (0.24-acre) parcel. Sixteen parking spaces are available via a large lot to the side and rear of the property. The property has been well-maintained and features large units with generously sized common and kitchen areas, offering a highly desirable and functional layout. In-place rents are significantly below current market rates, presenting an opportunity to increase rents in the competitive Cambridge multi-family market. The large, well-situated lot lends itself to higher density redevelopment, given recent changes to Cambridge zoning. The location has a bike score of 90, a walk score of 92, and a transit score of 79.
Key Highlights
- Significant opportunity to increase rental income by raising rents to current market rates.
- Ample parking with sixteen (16) spaces, a rare and valuable amenity in Cambridge.
- Large lot (10,506 sqft) with potential for higher density redevelopment due to recent zoning changes.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $278.8k | $44.40 |
| − Vacancy | −$11.2k | −$1.78 |
| EGI | $267.6k | $42.62 |
| − OpEx | −$120.4k | −$19.18 |
| NOI | $147.2k | $23.44 |
6,279 SF · lease $44.40/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.84M – $2.45M
NOI $147,200 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.84M
$4.24M – $5.65M
NOI $338,856 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Porter Square Digital
Marketing & Advertising
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six-unit building near Avon Hill and Porter Square neighborhoods.
Where is this apartment building located?
The property is located at 178 Richdale Ave Cambridge, MA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Significant opportunity to increase rental income by raising rents to current market rates.; Ample parking with sixteen (16) spaces, a rare and valuable amenity in Cambridge.; Large lot (10,506 sqft) with potential for higher density redevelopment due to recent zoning changes.
