Renovated Three-Family
3 Palermo Street Cambridge, MA 02141
3 Palermo Street, Cambridge, MA, 02141
$2,200,000
For Sale
$2,200,000
Renovated three-unit property with three bedrooms and one bathroom per unit and updated kitchens and baths.
Property Size2,814 SF
Price / SF$781.81
Days on Market71
Property Features for 3 Palermo Street
General Information
- Standard status
- Active
- Size
- 2,814 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1903
Listing agency
Gibson Sotheby's International Realty
Listed by
Lisa Godwin
(617) 731-4644
Source
Hammondre
Added: May 13 Updated: Jul 21 at 3:18PM Checked: Jul 21 at 3:18PM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
Renovated in 2018, this three-family residence is configured as three well-maintained units, each with three bedrooms and one bathroom. The apartments include updated kitchens and bathrooms, hardwood floors, and functional layouts designed for comfortable everyday living. The property also benefits from good natural light throughout.
Located in East Cambridge, the property is described as being near MIT, Kendall Square, Cambridge Crossing, and the area’s restaurants, cafes, shopping, and public transportation. It also offers convenient access to major commuter routes, downtown Boston, and MBTA Red and Green Line stations.
With three in-place units and renovation improvements completed in 2018, the building presents a turnkey multifamily configuration for buyers seeking rental housing in East Cambridge.
Located in East Cambridge, the property is described as being near MIT, Kendall Square, Cambridge Crossing, and the area’s restaurants, cafes, shopping, and public transportation. It also offers convenient access to major commuter routes, downtown Boston, and MBTA Red and Green Line stations.
With three in-place units and renovation improvements completed in 2018, the building presents a turnkey multifamily configuration for buyers seeking rental housing in East Cambridge.
Key Highlights
- Renovated 2018 three‑family built in 1903, with strong rental history and continued rental demand.
- Three well‑maintained units, each with 3 bedrooms and 1 bathroom.
- Updated kitchens and bathrooms in all units.
Local Financial Insights For Multifamily LT 5
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 | $106.4k | $37.80 |
| − Vacancy | −$5.5k | −$1.97 |
| EGI | $100.8k | $35.83 |
| − OpEx | −$30.3k | −$10.75 |
| NOI | $70.6k | $25.08 |
2,814 SF · lease $37.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$882.3K – $1.18M
NOI $70,587 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$942.4K
$824.6K – $1.10M
NOI $65,969 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,862 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Little Star of Ours ...
Daycare Center
Little Star of Ours
Daycare Center
Little Star of Ours ...
Daycare Center
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FAQs
What type of property is this?
Triplex - Renovated three-unit property with three bedrooms and one bathroom per unit and updated kitchens and baths.
Where is this triplex located?
The property is located at 3 Palermo Street Cambridge, MA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Renovated 2018 three‑family built in 1903, with strong rental history and continued rental demand.; Three well‑maintained units, each with 3 bedrooms and 1 bathroom.; Updated kitchens and bathrooms in all units.
