8-Unit Apartment
For Sale
$3,490,000
23-25 Inman St, Cambridge, MA 02139
Fully occupied multifamily property with tenants in place under existing leases.
Property Size5,314 SF
Price / SF$656.76
Days on Market96
Property Features for 23-25 Inman St
General Information
Standard status
Active
Size
5,314 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
C-1
Occupancy
100%
Net Operating Income
$235,395
Additional Details
Gross Income
$254,280
Public Transit
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$21,035
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Boston Northwest
Listed By:
Keystone Homes Group
(978) 760-2988
Source:
Erealtyadvisors
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 25 at 3:42AM
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 Keller Williams Realty Boston Northwest
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Investment Insights
Based on property information with market context.
This 5,314-square-foot multifamily property was constructed in 1900 and later converted into eight condominium units. The building is fully occupied, with residents in place under existing leases, providing an established operating configuration for a new owner.
The property is located in Inman Square in Cambridge, with access to Harvard University, MIT, Kendall Square, Central Square, public transportation, dining, shopping, and major employment centers. Its condominium conversion also creates a defined unit structure for future ownership or disposition planning.
The property is located in Inman Square in Cambridge, with access to Harvard University, MIT, Kendall Square, Central Square, public transportation, dining, shopping, and major employment centers. Its condominium conversion also creates a defined unit structure for future ownership or disposition planning.
Key Highlights
- Eight condominium units created through a property conversion
- 5,314 SF multifamily building constructed in 1900
- Fully occupied with tenants in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,577
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,491,540
$2.5M
Cap Rate 7%
$1,779,671
$1.8M
Cap Rate 9%
$1,384,189
$1.4M
Market Conditions
NOI Build-Up for 5,314 SF
Gross rent
$235.9K $44.40/SF
− Vacancy
−$9.4K −$1.78/SF
EGI
$226.5K $42.62/SF
− OpEx
−$101.9K −$19.18/SF
NOI
$124.6K $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%
$2,491,540
Cap Rate 7%
$1,779,671
Cap Rate 9%
$1,384,189
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,577 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.10M
$3.58M – $4.78M
NOI $286,778 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,338
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with tenants in place under existing leases.
Where is this apartment building located?
The property is located at 23-25 Inman St Cambridge, MA.
What is the asking price?
The asking price for this property is $3,490,000.
What are key features of this property?
This property features: Eight condominium units created through a property conversion; 5,314 SF multifamily building constructed in 1900; Fully occupied with tenants in place
