Cambridge Multifamily Development
For Sale
$2,500,000
Pending
49-51A Clifton St, Cambridge, MA 02140
Four-unit property with development potential in a growing neighborhood.
Property Size4,266 SF
Lot Size0.14 Acres
Days on Market165
Property Features for 49-51A Clifton St
General Information
Standard status
Pending
Size
4,266 SF
Lot size
0.14 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,466
Building Details
Building Size
4,266 SF
Year Built
1930
Stories
6
Units
4
Listing Agency:
(617) 272-0842
Listed By:
Hudson Santana · License #449540737
(617) 272-0842
Source:
Elliman
Added: Mar 10
Changed: Aug 9
Last Checked: Aug 20 at 9:33AM
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 Hudson Santana
Investment Insights
Based on property information with market context.
This four-unit multifamily home, featuring 12 bedrooms and 6 bathrooms, is situated on a lot exceeding 6,000 square feet. The property generates approximately $136,000 in annual rental income. Located in a rapidly developing area of Cambridge, the site offers potential for development. Zoning studies indicate the possibility of constructing a six-story building with over 20 units or a boutique four-unit luxury townhouse project, each unit exceeding 2,000 square feet, with parking. The location provides convenient access to the Minuteman Bike Path, Fresh Pond, and the Red Line, as well as Routes 2 and 16.
Key Highlights
- Development potential: Site supports a 6‑story building with 20+ units or a 4‑unit luxury townhouse project.
- High annual rental income: Currently generating ~$136,000.
- Large lot size: Situated on a 6,000+ sq.ft. lot.
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
$107,009
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
4.28%
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%
$2,140,180
$2.1M
Cap Rate 7%
$1,528,700
$1.5M
Cap Rate 9%
$1,188,989
$1.2M
Market Conditions
NOI Build-Up for 4,266 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
$161.3K $37.80/SF
− Vacancy
−$8.4K −$1.97/SF
EGI
$152.9K $35.83/SF
− OpEx
−$45.9K −$10.75/SF
NOI
$107.0K $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 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%
$2,140,180
Cap Rate 7%
$1,528,700
Cap Rate 9%
$1,188,989
Alternative Uses
Best Use
Multifamily LT 5
$1.53M
$1.34M – $1.78M
NOI $107,009 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,009 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,221 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,851
Businesses Nearby
Explore this area
Business Placement
Demographics for 02140, MA
21,447
Population
11,117
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
95%
High-School Grad
1.2 sq mi
ZIP Area
17,873
Density / Sq Mi
$136,382
Median Household Income
$77,506
Median Earnings
$2,581
Median Rent
$1,070,200
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?
Quadplex - Four-unit property with development potential in a growing neighborhood.
Where is this quadplex located?
The property is located at 49-51A Clifton St Cambridge, MA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Development potential: Site supports a 6‑story building with 20+ units or a 4‑unit luxury townhouse project.; High annual rental income: Currently generating ~$136,000.; Large lot size: Situated on a 6,000+ sq.ft. lot.
