381-383 Cardinal Medeiros Avenue | Cambridge Portfolio
Icon > Executive Summary | Cambridge Properties

Executive Summary

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.

PROPERTY OVERVIEW

*GSF: 8,518

*NSF: 6,351

Lot Size: 6,007 SF

Units: 6

Beds: 12

Unit Mix: (6) 2-Beds

* Per Cambridge public assessors.

HIGHLIGHTS

381-383 Cardinal Medeiros Avenue | Cambridge Portfolio

VALUE ADD OPPORTUNITY

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.

CAMBRIDGE MULTI-FAMILY MARKET

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.

EXCEPTIONAL TENANT BASE

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.

CAMBRIDGE DEMOGRAPHICS

47%

51%

Millennials

(20-34 years of age)

Residents hold a

Master's Degree or higher

(82% hold Bachelors or higher)

29.7%

Enrolled in College

or Graduate School

65.4%

Units are Rented while

34.6% are Owner Occupied

+ $100,000

Average Household Income

Average Rent PEr Month

East Cambridge Condo Sales

Average Rent Per Month - Location
Average Rent Per Month - Location

CONTACT US

MULTI-FAMILY INVESTMENT SALES

Christopher Sower

617 330 8141

christopher.sower@colliers.com

 

Jen Price

617 330 8043

jennifer.price@colliers.com

Jonathan Bryant

617 330 8081

jonathan.bryant@colliers.com

 

Maggie Collins

617 330 8013

maggie.collins@colliers.com

FINANCING

Kevin Phelan

617 330 8050

kevin.phelan@colliers.com

Jeff Black

617 330 8049

jeff.black@colliers.com

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Colliers International | Boston

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Boston, MA  02110

www.colliers.com

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This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). © 2017. All rights reserved. Colliers International respects your privacy. A copy of our privacy policy can be found on our website.

381-383 Cardinal Medeiros Avenue | Cambridge Portfolio
381-383 Cardinal Medeiros Avenue | Cambridge Portfolio

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381-383 Cardinal Medeiros Avenue | Cambridge Portfolio
Icon > Executive Summary | Cambridge Properties
381-383 Cardinal Medeiros Avenue | Cambridge Portfolio
Average Rent Per Month - Location
Average Rent Per Month - Location
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Colliers International | Boston