Six-Unit Apartment Building with Separate
For Sale
$2,200,000
588-590 Cambridge St, Boston, MA 02134
Five 1-bedroom and one 2-bedroom unit building with separately metered heat, hot water, and electricity.
Property Size5,345 SF
Price / SF$411.60
Days on Market95
Property Features for 588-590 Cambridge St
General Information
Standard status
Active
Size
5,345 SF
Total Parking Spaces
4
Property subtype
5-9 Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
5 x 1BR, 1 x 2BR
Multifamily Units
6
Building Details
Building Size
5,345 SF
Year Built
1930
Listing Agency:
RE/MAX Select Realty
(617) 787-9800
Listed By:
Kevin Cleary · License #449530776
Source:
Capital-entities
Added: Apr 28
Changed: Jul 29
Last Checked: Jul 30 at 10:49AM
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 RE/MAX Select Realty
Investment Insights
Based on property information with market context.
This apartment building includes six apartments—five 1-bedroom units and one 2-bedroom unit. Each unit is separately metered for heat, hot water, and electricity, which helps keep landlord utility operating expenses aligned to individual tenant usage. The property is supported by a total of four dedicated off-street parking spaces in the rear.
Built in 1930, the building totals 5,345 SF. Renters can benefit from the property’s walk-up convenience, with the Green Line, major universities, and local dining described as nearby.
Lease rollover presents a defined schedule for future planning. Four leases expire on August 31, 2026. One unit is tenant-at-will, and one unit is leased through July 31, 2027.
Built in 1930, the building totals 5,345 SF. Renters can benefit from the property’s walk-up convenience, with the Green Line, major universities, and local dining described as nearby.
Lease rollover presents a defined schedule for future planning. Four leases expire on August 31, 2026. One unit is tenant-at-will, and one unit is leased through July 31, 2027.
Key Highlights
- Six apartments: five 1‑bedroom and one 2‑bedroom unit
- Separately metered heat, hot water, and electricity for each unit
- Four dedicated off‑street parking spaces in the rear
Financial Insights For Apartment 5plus
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 | $237.3k | $44.40 |
| − Vacancy | −$9.0k | −$1.69 |
| EGI | $228.3k | $42.71 |
| − OpEx | −$102.7k | −$19.22 |
| NOI | $125.6k | $23.49 |
5,345 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.79M
$1.57M – $2.09M
NOI $125,565 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,164 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,395
Businesses Nearby
Explore this area
Business Placement
Demographics for 02134, MA
21,707
Population
9,027
Households
2.4
Avg Household Size
27
Median Age
76%
College-Educated
96%
High-School Grad
1.2 sq mi
ZIP Area
18,089
Density / Sq Mi
$75,317
Median Household Income
$49,275
Median Earnings
$2,269
Median Rent
$586,700
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 - Five 1-bedroom and one 2-bedroom unit building with separately metered heat, hot water, and electricity.
Where is this apartment building located?
The property is located at 588-590 Cambridge St Boston, MA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Six apartments: five 1‑bedroom and one 2‑bedroom unit; Separately metered heat, hot water, and electricity for each unit; Four dedicated off‑street parking spaces in the rear
