Multifamily Building with Off-Street
588-590 Cambridge Street Boston, MA 02134
588-590 Cambridge Street, Boston, MA, 02134
$2,200,000
For Sale
$2,200,000
Six units (five 1-bedroom, one 2-bedroom) with separately metered utilities and four dedicated rear parking spaces.
Property Size5,345 SF
Price / SF$411.60
Days on Market87
Property Features for 588-590 Cambridge Street
General Information
- Standard status
- Active
- Size
- 5,345 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1930
Listing agency
RE/MAX Select Realty
Listed by
Kevin Cleary
(617) 765-8747
Source
Perrydinatalerealty
Added: Apr 27 Updated: Jul 21 at 4:36AM Checked: Jul 21 at 4:36AM
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 RE/MAX Select Realty
Investment Insights
Based on property information with market context.
The property includes six residential apartments: five 1-bedroom units and one 2-bedroom unit. Each unit is separately metered for heat, hot water, and electricity. There are four dedicated off-street parking spaces located in the rear of the building.
The building is located steps from the Green Line, major universities, and local dining, supporting tenant demand for area living. Current lease timelines present near-term flexibility, with four leases expiring August 31, 2026, one unit operating as a tenant-at-will, and one unit leased through July 31, 2027.
For more information, including the full financial breakdown, contact the listing agent.
The building is located steps from the Green Line, major universities, and local dining, supporting tenant demand for area living. Current lease timelines present near-term flexibility, with four leases expiring August 31, 2026, one unit operating as a tenant-at-will, and one unit leased through July 31, 2027.
For more information, including the full financial breakdown, contact the listing agent.
Key Highlights
- Six‑unit building built in 1930: five 1‑bedroom apartments plus one 2‑bedroom unit
- Separately metered for heat, hot water, and electricity across all units
- Four dedicated off‑street parking spaces in the rear
Local 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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six units (five 1-bedroom, one 2-bedroom) with separately metered utilities and four dedicated rear parking spaces.
Where is this apartment building located?
The property is located at 588-590 Cambridge Street 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‑unit building built in 1930: five 1‑bedroom apartments plus one 2‑bedroom unit; Separately metered for heat, hot water, and electricity across all units; Four dedicated off‑street parking spaces in the rear
