Colliers International is pleased to offer for sale 381-383 Cardinal Medeiros Avenue, a 6-unit multi-family opportunity located in East Cambridge. The property is within walking distance to Massachusetts Institute of Technology, Kendall Square, and world-class employers in the biotechnology and pharmaceutical space.
381-383 Cardinal Medeiros Avenue is available on an un-priced basis. Additional due diligence materials are available for qualified buyers. We will be conducting tours of the property in the coming weeks with a call for offers to follow.
Lot Size: 6,007 SF
Unit Mix: (6) 2-Beds
* Per Cambridge public assessors.
This 6-unit property offers value-add potential through renovations and reconfigurations of units. Additionally, the 6,007 SF lot includes a large enclosed parking garage, with future redevelopment potential.
With limited supply and pent-up demand, the Cambridge housing market is seeing average rents exceeding $2,395 for a one-bedroom unit and $2,914 for a two-bedroom unit. Additionally, the Cambridge condo market has seen a year over year price increase of 44.8% with average new construction selling for over $815/SF.
The existing tenant base is driven by Harvard University and Massachusetts Institute of Technology graduate programs. These thriving universities demand off-campus housing for over 10,500 students per year, with significant growth projected into the future. The Kendall Square employment base draws additional tenant base through the strong technology and bio-pharma industries.
MULTI-FAMILY INVESTMENT SALES
617 330 8141
617 330 8043