Three-Unit
For Sale
$2,550,000
311-313 Cardinal Medeiros Avenue, Cambridge, MA 02141
Well-maintained Cambridge multifamily property with separately metered apartments, private parking, and a partially finished basement.
Property Size3,936 SF
Price / SF$647.87
Days on Market85
Property Features for 311-313 Cardinal Medeiros Avenue
General Information
Standard status
Active
Size
3,936 SF
Total Parking Spaces
5
Property subtype
Multi-family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Amenities
in-unit washer/dryer
central air conditioning
partially finished basement with full bathroom
Building Details
Year Built
1903
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Lexington
Listed By:
Cameron Moniz
(857) 654-3051
Source:
Benoitrealestate
Added: Jul 13
Changed: Oct 4
Last Checked: Oct 4 at 9:45AM
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 - Lexington
Investment Insights
Based on property information with market context.
Located at 311-313 Cardinal Medeiros Ave in Cambridge, this 3,936-square-foot multifamily property was built in 1903 and contains three separately metered apartments. The first and second floors each have two bedrooms, one bathroom, living and dining rooms, while the third-floor residence provides three bedrooms and one bathroom. Every unit includes an in-unit washer and dryer, and the first- and third-floor apartments have central air conditioning. A partially finished basement includes a full bathroom.
The property has a large private driveway with off-street parking for 4-5 vehicles and is zoned C-1. The second-floor apartment is leased through June 2027, and the third-floor apartment is leased through April 2027. The first-floor unit will be delivered vacant. Recent capital improvements include a new roof and two new heating systems, both installed in 2025. The property is near the MBTA Red and Green Lines, the Charles River, MIT, Mass General Hospital, and downtown Boston.
The property has a large private driveway with off-street parking for 4-5 vehicles and is zoned C-1. The second-floor apartment is leased through June 2027, and the third-floor apartment is leased through April 2027. The first-floor unit will be delivered vacant. Recent capital improvements include a new roof and two new heating systems, both installed in 2025. The property is near the MBTA Red and Green Lines, the Charles River, MIT, Mass General Hospital, and downtown Boston.
Key Highlights
- Three separately metered apartments with individual gas and electric utilities
- 3,936 square feet across three residential units
- First and second floors: 2‑bedroom, 1‑bath layouts; third floor: 3‑bedroom, 1‑bath apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,731
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,974,620
$2.0M
Cap Rate 7%
$1,410,443
$1.4M
Cap Rate 9%
$1,097,011
$1.1M
Market Conditions
NOI Build-Up for 3,936 SF
Gross rent
$148.8K $37.80/SF
− Vacancy
−$7.7K −$1.97/SF
EGI
$141.0K $35.83/SF
− OpEx
−$42.3K −$10.75/SF
NOI
$98.7K $25.08/SF
Area
Cambridge, MA
Vacancy
5.20%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,974,620
Cap Rate 7%
$1,410,443
Cap Rate 9%
$1,097,011
Alternative Uses
Best Use
Multifamily LT 5
$1.41M
$1.23M – $1.65M
NOI $98,731 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,272 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$3.03M
$2.66M – $3.54M
NOI $212,413 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,247
Businesses Nearby
Explore this area
Business Placement
Demographics for 02141, MA
15,130
Population
8,128
Households
1.9
Avg Household Size
32
Median Age
74%
College-Educated
94%
High-School Grad
0.6 sq mi
ZIP Area
25,217
Density / Sq Mi
$120,542
Median Household Income
$73,002
Median Earnings
$2,752
Median Rent
$892,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained Cambridge multifamily property with separately metered apartments, private parking, and a partially finished basement.
Where is this triplex located?
The property is located at 311-313 Cardinal Medeiros Avenue Cambridge, MA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Three separately metered apartments with individual gas and electric utilities; 3,936 square feet across three residential units; First and second floors: 2‑bedroom, 1‑bath layouts; third floor: 3‑bedroom, 1‑bath apartment
