417 Cardinal Medeiros Ave Cambridge, MA 02141

Property Details for 417 Cardinal Medeiros Ave

Year built

1900

Lot size

0.12 lot acres

Property size

8,061 SF

Property type

Commercial real estate

Description

This exceptional three-story, six-unit apartment building presents a compelling investment opportunity in Cambridge, Massachusetts's desirable Wellington-Harrington neighborhood. Boasting 6,012 square feet of net rentable space within a total of 8,061 square feet, the property sits on a 0.12-acre lot. Built in 1900, the building has undergone extensive renovations, featuring condo-quality upgrades throughout. Units include updated kitchens with granite countertops and stainless steel appliances (gas stoves and dishwashers), hardwood floors, new bathrooms, and in-unit washers and dryers. Each unit is individually metered for gas heat, hot water, and electricity. The property currently generates a Net Operating Income (NOI) of $223,318, representing a 5.58% capitalization rate. The asking price is $4,000,000, or $666,667 per unit. Its strategic location offers easy access to Kendall Square, Inman Square, Union Square Green Line station, MIT, MGH, the Charles River Esplanade, and Downtown Boston. The property benefits from proximity to major employment centers, public transportation (including multiple MBTA bus routes and easy access to the Red and Green Lines), and numerous amenities. This turnkey investment is poised for strong returns, given the Cambridge submarket's continued growth and projected rent increases. The unit mix comprises two 4-bedroom/1-bathroom units, two 3-bedroom/1-bathroom units, and two 2-bedroom/1-bathroom units. The property's location within a high-density, urban-infill area, coupled with its recent renovations, makes it an attractive proposition for investors seeking income growth and strong capital appreciation.