Cambridge Multifamily Investment
For Sale
$2,325,000
Pending
343 Harvard St, Cambridge, MA 02139
Well-maintained 5-unit property near Harvard Square with income potential.
Property Size4,294 SF
Days on Market142
Property Features for 343 Harvard St
General Information
Standard status
Pending
Size
4,294 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
C-1
Building Details
Building Size
4,294 SF
Year Built
1855
Stories
5
Listing Agency:
Coldwell Banker Realty - Boston
(617) 733-3983
Listed By:
Brian Gagnon
Source:
Hometown-team
Added: Apr 12
Changed: Aug 8
Last Checked: Jul 23 at 2:36AM
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
Investment Insights
Based on property information with market context.
Located at 343 Harvard Ave in Cambridge, this well-maintained property features five units: four one-bedroom units and one two-bedroom unit. The property generates income and offers upside potential. Four of the five leases expire this year and are currently below market value. The property includes two off-street parking spaces. The current rental income is approximately $13,500 per month. The property is located in a high-demand area near Harvard Square, providing access to universities, public transportation, and local amenities.
Key Highlights
- High in‑place income of approximately $13,500/month with significant upside potential.
- Prime location near Harvard Square with unbeatable access to universities, public transportation, and local amenities.
- Four of five leases expire this year, offering opportunity to increase rents to market value.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$100,665
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,013,300
$2.0M
Cap Rate 7%
$1,438,071
$1.4M
Cap Rate 9%
$1,118,500
$1.1M
Market Conditions
NOI Build-Up for 4,294 SF
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.
Gross rent
$190.7K $44.40/SF
− Vacancy
−$7.6K −$1.78/SF
EGI
$183.0K $42.62/SF
− OpEx
−$82.4K −$19.18/SF
NOI
$100.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,013,300
Cap Rate 7%
$1,438,071
Cap Rate 9%
$1,118,500
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,665 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,733 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,602
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 5-unit property near Harvard Square with income potential.
Where is this apartment building located?
The property is located at 343 Harvard St Cambridge, MA.
What is the asking price?
The asking price for this property is $2,325,000.
What are key features of this property?
This property features: High in‑place income of approximately $13,500/month with significant upside potential.; Prime location near Harvard Square with unbeatable access to universities, public transportation, and local amenities.; Four of five leases expire this year, offering opportunity to increase rents to market value.
