9-Unit Multifamily Development
14-16 Field Street Cambridge, MA 02138
New
14-16 Field Street, Cambridge, MA, 02138
$3,500,000
For Sale
$3,500,000
Proposed 9-unit multifamily development with a mix of two- and three-bedroom residences featuring private outdoor space.
Property Size10,544 SF
Price / SF$331.94
Days on Market6
Property Features for 14-16 Field Street
General Information
- Standard status
- Active
- Size
- 10,544 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2026
Listing Agency
RE/MAX Real Estate Center
Listed by
David Lilley
(617) 396-3100
Source
Longwoodresidential
Added: Jul 16 Updated: Jul 20 at 2:20 am Checked: Jul 20 at 2:20 am
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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
A will-be-fully-permitted 9-unit multifamily development opportunity at 14–16 Field Street in Cambridge. The proposed plan calls for 8 luxury two-bedroom residences and 1 three-bedroom residence, each designed with private balconies and/or studies, and select units with roof decks.
The site is described as shovel-ready, with plans soon to be approved and a timeline intended to allow immediate demo and construction to proceed faster to completion. The offering materials indicate the opportunity can be pursued as premium condominiums or held as high-end rental units.
Plans and the offering memorandum are available for review, including a full set of proposed designs provided under a paper clip.
The site is described as shovel-ready, with plans soon to be approved and a timeline intended to allow immediate demo and construction to proceed faster to completion. The offering materials indicate the opportunity can be pursued as premium condominiums or held as high-end rental units.
Plans and the offering memorandum are available for review, including a full set of proposed designs provided under a paper clip.
Key Highlights
- Proposed 9‑unit development in West Cambridge with 8 two‑bedroom and 1 three‑bedroom luxury residences
- Each unit planned with private outdoor space including balconies, studies, and roof decks
- Plans are described as soon to be approved with fully permitted development opportunity
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 | $468.2k | $44.40 |
| − Vacancy | −$18.7k | −$1.78 |
| EGI | $449.4k | $42.62 |
| − OpEx | −$202.2k | −$19.18 |
| NOI | $247.2k | $23.44 |
10,544 SF · lease $44.40/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.53M
$3.09M – $4.12M
NOI $247,185 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.13M
$7.11M – $9.48M
NOI $569,024 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Proposed 9-unit multifamily development with a mix of two- and three-bedroom residences featuring private outdoor space.
Where is this apartment building located?
The property is located at 14-16 Field Street Cambridge, MA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Proposed 9‑unit development in West Cambridge with 8 two‑bedroom and 1 three‑bedroom luxury residences; Each unit planned with private outdoor space including balconies, studies, and roof decks; Plans are described as soon to be approved with fully permitted development opportunity
