Three-Unit Multifamily
For Sale
$1,600,000
68 Gore Street, Cambridge, MA 02141
Three-story residential income property with off-street parking and laundry serving the residents.
Property Size2,889 SF
Price / SF$553.82
Days on Market274
Property Features for 68 Gore Street
General Information
Standard status
Active
Size
2,889 SF
Total Parking Spaces
1
Property subtype
Multi-family / 3 Family - 3 Units Up/Down
Zoning
C-1
Net Operating Income
$98,831
Units
Unit Mix
1 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$10,403
Amenities
off-street parking
on-site laundry
City/Town Sewer, Public, Individually Metered
No, .00
No
3.0
3
3.00
Rubber
Other
Building Details
Year Built
1885
Buildings
1
Stories
3
Listing Agency:
Horvath & Tremblay
(781) 776-4000
Listed By:
Kelleher - Pentore Team
(781) 776-4000
Source:
Compass
Added: Nov 30, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:09AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Located at 68 Gore Street in Cambridge, this three-story multifamily property contains 2,889 square feet and was built in 1885. The building includes three units: one with 3 bedrooms and 1 bathroom, plus two with 2 bedrooms and 1 bathroom.
Each residence has separate metering for gas-fired hot-water heat, hot water, and electricity. Additional property features include off-street parking and on-site laundry. The property is zoned C-1 and offers a documented opportunity for unit improvements, including consideration of converting one 2-bedroom unit to a 3-bedroom layout.
Each residence has separate metering for gas-fired hot-water heat, hot water, and electricity. Additional property features include off-street parking and on-site laundry. The property is zoned C-1 and offers a documented opportunity for unit improvements, including consideration of converting one 2-bedroom unit to a 3-bedroom layout.
Key Highlights
- Three‑story building with 3 total units and 2,889 square feet
- Unit mix includes one 3‑Bed/1‑Bath unit and two 2‑Bed/1‑Bath units
- Separate metering for gas‑fired hot‑water heat, hot water, and electric
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
$72,468
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
4.53%
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%
$1,449,360
$1.4M
Cap Rate 7%
$1,035,257
$1.0M
Cap Rate 9%
$805,200
$805.2K
Market Conditions
NOI Build-Up for 2,889 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
$109.2K $37.80/SF
− Vacancy
−$5.7K −$1.97/SF
EGI
$103.5K $35.83/SF
− OpEx
−$31.1K −$10.75/SF
NOI
$72.5K $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%
$1,449,360
Cap Rate 7%
$1,035,257
Cap Rate 9%
$805,200
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$905.9K – $1.21M
NOI $72,468 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$967.5K
$846.6K – $1.13M
NOI $67,727 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,909 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 02141, MA
15,130
Population
8,128
Households
1.9
Avg Household Size
32
Median Age
74%
College-Educated
94%
High-School Grad
0.6 sq mi
ZIP Area
25,217
Density / Sq Mi
$120,542
Median Household Income
$73,002
Median Earnings
$2,752
Median Rent
$892,600
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?
Triplex - Three-story residential income property with off-street parking and laundry serving the residents.
Where is this triplex located?
The property is located at 68 Gore Street Cambridge, MA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Three‑story building with 3 total units and 2,889 square feet; Unit mix includes one 3‑Bed/1‑Bath unit and two 2‑Bed/1‑Bath units; Separate metering for gas‑fired hot‑water heat, hot water, and electric
