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$2,000,000
Total Beds: 9 Total Baths: 3
Total Units: 3 SQFT: 4976
LOT size: 0.09 Acres
7 Richard Ave
Cambridge, MA 02140
View Map

Property Description

Rare-to-market BRICK 3-family opportunity in North Cambridge on a nearly 4K lot w/ 3700 sqft of living area, front & back porches & patio, and driveway offers a huge upside to end-users, investors, & developers alike! Impeccably well-maintained, each unit boasts 3 beds/1 bath w/ hardwoods, updated kitchens, & classic front-to-back layouts including adjoining living & dining rooms. Tenants enjoy exclusive-use laundry in the basement, along with ample private storage. Each unit is leased through 8/31/25, generating a combined monthly rent of $8,610 (**under market rents**). Additional highlights include a shared patio, a storage shed, and a paved driveway w/ carport for 3 cars. All this on a tree-lined street near Alewife, Davis Square, Tufts, Mass Ave, and the Minuteman Bikeway. Ideal for investors, 1031 exchanges, or future condo conversion. A solid Cambridge investment in a prime location!

Property Details

Building Information

  • Total Units: 3
  • Total Floors: 6
  • Total Bedrooms: 9
  • Total Full Baths: 3
  • Amenities: Highway Access, Park, Public School, Public Transportation, Shopping, T-Station
  • Basement Features: Concrete Floor, Full, Interior Access, Unfinished Basement
  • Common Rooms: Dining Room, Kitchen, Living Room
  • Common Appliances: Dishwasher, Disposal, Dryer, Range, Refrigerator, Washer
  • Common Heating: Active Solar, Central Heat, Electric Baseboard, Hot Water Radiators, Hot Water Radiators, Steam

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 103320
  • Gross Expenses: 6415
  • GSE: 784
  • Water/Sewer: 3067
  • RFS: 2564
  • Net Operating Income: 96905

Utilities

  • Heat Zones: 3
  • Electric Info: Circuit Breakers, Underground
  • Energy Features: Insulated Windows
  • Utility Connections: for Gas Range
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Heat, Hot Water, Other (See Remarks), Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Heat, Hot Water, Other (See Remarks), Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Included in Rent: Heat, Hot Water, Other (See Remarks), Water
  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1928
  • Type: 3 Family - 3 Units Up/Down
  • Construction Type: Brick
  • Foundation Info: Poured Concrete
  • Roof Material: Rubber
  • Flooring Type: Hardwood
  • Lead Paint: Unknown
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73357234
  • Last Updated: 04/17/25
  • Terms: Contract for Deed, Rent w/Option

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Map

Seller's Representative: The Rasner Group, Keller Williams Realty Boston-Metro | Back Bay
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2025-04-17 15:46:00

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