Allston Development Opportunity: 20
556 Cambridge Street, Boston, MA 02134
Development opportunity in Allston: approved plans for 20 residential units.
Type:Multi-family / 5-9 Family
Property size:
17,410 SFPrice / SF:
$215/SF- Added:
- Apr 8, 2026
- Days on Market:
- 54
- Last Refresh:
- Apr 8 at 8:13 pm
Property Features for 556 Cambridge Street
General Information
- Standard status
- Active
- Size
- 17,410 SF
- Property subtype
- Multi-family / 5-9 Family
Building Details
- Year Built
- 2027
Listing agent The Residential Group (617) 731-2447
Listing office Coldwell Banker Realty - Brookline (617) 731-2447
Listing date Apr 8, 2026
Source Compass
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 - Brookline
HighLights
- Approved plans for a 4‑story, 14‑unit residential building (11 market rate, 3 affordable) to replace the existing office building.
- Separately approved plans to convert the existing 3‑family to a 6‑family via gut rehab, basement expansion, and roof dormers.
- Two contiguous lots being sold as a package with building permits ready to issue.
- Projected total of 20 new residential units upon completion of both developments.
- Desirable corner lot location in Allston.
- Existing income from short‑term tenants in the commercial building and longer‑term tenants in the 3‑family.
Overview
This offering presents the opportunity to acquire 556 Cambridge Street, an existing office building, and 32 Gordon Street, an existing three-family residence, situated on contiguous lots. Included are approved plans to demolish the office building and construct a four-story, 14-unit residential building. Separately approved plans are in place to convert the three-family dwelling into a six-family building through a comprehensive renovation, basement expansion, and the addition of roof dormers. The 556 Cambridge Street property is permitted as a condominium project featuring 11 market-rate units and three affordable units, comprising one two-bedroom, two-bathroom unit, seven one-bedroom units, and six studios. The 32 Gordon Street property is designed for development for sale or rent, with plans for two one-bedroom units, three two-bedroom, two-bathroom units, and one three-bedroom, two-bathroom unit, all at market rates. The existing commercial building has short-term tenants, while the three-family residence has longer-term tenants. The properties, totaling 17410 square feet, are sold as a package with building permits ready to be issued, offering the potential to transform this corner of Allston into 20 new residential units.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Boston
- County
- Suffolk
- State
- Massachusetts
- Longitude
- -71.13
- Latitude
- 42.3585
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Development opportunity in Allston: approved plans for 20 residential units.
Where is this apartment building located?
The property is located at 556 Cambridge Street Boston, MA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Approved plans for a **4‑story, 14‑unit residential building** (11 market rate, 3 affordable) to replace the existing office building.; Separately approved plans to convert the existing 3‑family to a 6‑family via gut rehab, basement expansion, and roof dormers.; Two contiguous lots being sold as a package with building permits ready to issue.
