Fully Renovated Three-Unit Condo
387 Norfolk Street Cambridge, MA 02139
387 Norfolk Street, Cambridge, MA, 02139
$4,349,970
For Sale
$4,349,970
Fully renovated three-unit building with private rear decks, in-unit laundry, and individual heat pump systems.
Property Size5,315 SF
Price / SF$818.43
Days on Market31
Property Features for 387 Norfolk Street
General Information
- Standard status
- Active
- Size
- 5,315 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1916
Listing agency
eXp Realty LLC - Corporate Office
(404) 689-4408
Listed by
The Denman Group · License #H-63985
Source
Gregoryhaughton
Added: Jun 22 Updated: Jul 20 at 5:34PM Checked: Jul 21 at 6:46AM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
This fully renovated three-unit building was converted in 2026 and arranged as three thoughtfully designed condos. Each unit includes signature bay windows and oak hardwood floors, along with in-unit laundry and composite decks. The homes feature Bosch appliance suites, quartz countertops, soft-close cabinetry, Kohler fixtures, and designer tile with bespoke vanities in the bathrooms. Unit layouts include bi-level living in Unit 1 with three bedrooms, three full baths, plus a finished lower level offering a recreational room, a home office, and an extra-large laundry area. Units 2 and 3 each offer three bedrooms, two full baths, and a flexible fourth room suitable as a home office or guest suite.
The building is all-electric with individual heat pump systems and separate utilities. Each unit has access to a private rear deck, and one dedicated parking space is included. Unit 3 features a private entry vestibule and unobstructed Boston skyline views.
Located in Inman Square, the property is convenient to dining, shopping, and public transit.
The building is all-electric with individual heat pump systems and separate utilities. Each unit has access to a private rear deck, and one dedicated parking space is included. Unit 3 features a private entry vestibule and unobstructed Boston skyline views.
Located in Inman Square, the property is convenient to dining, shopping, and public transit.
Key Highlights
- Fully renovated three‑unit building (converted in 2026) with private rear decks and in‑unit laundry
- All‑electric with individual heat pump systems and separate utilities for each unit
- Each condo includes Bosch appliance suites, quartz countertops, and soft‑close cabinetry with Kohler fixtures
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 | $200.9k | $37.80 |
| − Vacancy | −$10.4k | −$1.97 |
| EGI | $190.5k | $35.83 |
| − OpEx | −$57.1k | −$10.75 |
| NOI | $133.3k | $25.08 |
5,315 SF · lease $37.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.90M
$1.67M – $2.22M
NOI $133,322 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,601 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$4.10M
$3.59M – $4.78M
NOI $286,832 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully renovated three-unit building with private rear decks, in-unit laundry, and individual heat pump systems.
Where is this triplex located?
The property is located at 387 Norfolk Street Cambridge, MA.
What is the asking price?
The asking price for this property is $4,349,970.
What are key features of this property?
This property features: Fully renovated three‑unit building (converted in 2026) with private rear decks and in‑unit laundry; All‑electric with individual heat pump systems and separate utilities for each unit; Each condo includes Bosch appliance suites, quartz countertops, and soft‑close cabinetry with Kohler fixtures
