Historic 15-Unit Apartment
For Sale
$11,999,000
183 Harvard St, Cambridge, MA 02139
C-1-zoned apartment portfolio with unfinished attic and basement areas for future planning.
Property Size22,992 SF
Price / SF$521.88
Days on Market220
Property Features for 183 Harvard St
General Information
Standard status
Active
Size
22,992 SF
Property subtype
Multi-Family
Zoning
C-1
Net Operating Income
$507,600
Taxes and HOA fees
Annual Taxes
$56,050
Building Details
Building Size
22,992 SF
Year Built
1886
Stories
15
Listing Agency:
Coldwell Banker Realty - Boston
(617) 266-4430
Listed By:
Farah Fakih
(617) 893-4555
Source:
Churchillprop
Added: Mar 11
Changed: Oct 6
Last Checked: Oct 14 at 9:15PM
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 Coldwell Banker Realty - Boston
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1886, this 22,992-square-foot apartment property comprises five attached Mansard-style buildings with 15 units in total. Each building contains three apartments, including one one-bedroom, one two-bedroom, and one three-bedroom unit. Unfinished attic space and high-ceiling basement areas add usable areas for future planning, subject to applicable approvals.
The property is a contributing structure within the Old Cambridgeport National Register Historic District. Architectural details include brick construction, round bays extending through the cornice, arched windows and entrances, recessed entryways, and period ornamentation. Positioned at the end of Cherry Street, the property is located minutes from Harvard, MIT, Central Square, and Kendall Square.
The property is a contributing structure within the Old Cambridgeport National Register Historic District. Architectural details include brick construction, round bays extending through the cornice, arched windows and entrances, recessed entryways, and period ornamentation. Positioned at the end of Cherry Street, the property is located minutes from Harvard, MIT, Central Square, and Kendall Square.
Key Highlights
- 15 apartments across five attached Mansard‑style buildings
- Unit mix includes five one‑bedroom, five two‑bedroom, and five three‑bedroom apartments
- 22,992‑square‑foot property built in 1886
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$539,006
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,780,120
$10.8M
Cap Rate 7%
$7,700,086
$7.7M
Cap Rate 9%
$5,988,956
$6.0M
Market Conditions
NOI Build-Up for 22,992 SF
Gross rent
$1.02M $44.40/SF
− Vacancy
−$40.8K −$1.78/SF
EGI
$980.0K $42.62/SF
− OpEx
−$441.0K −$19.18/SF
NOI
$539.0K $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%
$10,780,120
Cap Rate 7%
$7,700,086
Cap Rate 9%
$5,988,956
Alternative Uses
Best Use
Apartment 5plus
$7.70M
$6.74M – $8.98M
NOI $539,006 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.73M
$15.51M – $20.68M
NOI $1,240,800 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,261
Businesses Nearby
Explore this area
Business Placement
Demographics for 02139, MA
39,525
Population
16,930
Households
2.3
Avg Household Size
30
Median Age
78%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
24,703
Density / Sq Mi
$124,648
Median Household Income
$61,025
Median Earnings
$2,613
Median Rent
$1,066,200
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
Frequently Asked Questions
What type of property is this?
Apartment building - C-1-zoned apartment portfolio with unfinished attic and basement areas for future planning.
Where is this apartment building located?
The property is located at 183 Harvard St Cambridge, MA.
What is the asking price?
The asking price for this property is $11,999,000.
What are key features of this property?
This property features: 15 apartments across five attached Mansard‑style buildings; Unit mix includes five one‑bedroom, five two‑bedroom, and five three‑bedroom apartments; 22,992‑square‑foot property built in 1886
