Building Details

Year Built 1900

Buildings 1

Units 9

Listing Agency: Hunneman

Listed By: Carl Christie · License #MA 9521806 Show Phone

Source: Crexi

Added: Jul 24 Changed: Sep 30 Last Checked: Oct 4 at 8:10AM

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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 Hunneman

Investment Insights

Based on property information with market context.

239-243 Columbia Street is a nine-unit apartment building built in 1900. The property offers nine spacious two-bedroom apartments, and each upper-floor unit includes an additional den that can function as a home office or a smaller third bedroom.

The building is 100% occupied, providing immediate in-place cash flow supported by a history of occupancy and long-term ownership. With this consistent occupancy and the flexible den layout, the property is positioned to serve tenants seeking extra room within their unit.

The asset’s existing unit configuration provides a practical rental mix across the nine units, including upper-floor den space, while maintaining the overall two-bedroom foundation for day-to-day living needs.

Key Highlights

• Nine‑unit apartment building
• Nine spacious two‑bedroom apartments
• Upper‑floor units include a den for office or smaller third bedroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$198,329

Cap Rate

4.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,966,580 $4.0M

Cap Rate 7%

$2,833,271 $2.8M

Cap Rate 9%

$2,203,656 $2.2M

Market Conditions

NOI Build-Up for 8,460 SF

Gross rent

$375.6K $44.40/SF

− Vacancy

−$15.0K −$1.78/SF

EGI

$360.6K $42.62/SF

− OpEx

−$162.3K −$19.18/SF

NOI

$198.3K $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%

$3,966,580

Cap Rate 7%

$2,833,271

Cap Rate 9%

$2,203,656

Alternative Uses

Best Use

Apartment 5plus

$2.83M

$2.48M – $3.31M (±1% cap)

NOI $198,329 @ 7.0% cap · market cap 4.51%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.52M

$5.71M – $7.61M (±1% cap)

NOI $456,557 @ 7.0% cap · market cap 10.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Nail Salon Cosmetic Store Nursing Home (Bike/Boat/Book/etc) Store Clothing & Fashion Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

9

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

5,115

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Nine two-bedroom units feature a den on upper floors and are 100% occupied.

Where is this apartment building located?

The property is located at 239 Columbia Street Cambridge, MA.

What is the asking price?

The asking price for this property is $4,395,999.

What are key features of this property?

This property features: Nine‑unit apartment building; Nine spacious two‑bedroom apartments; Upper‑floor units include a den for office or smaller third bedroom