18 Fainwood CirCambridge, MA 02139

Property Details for 18 Fainwood Cir

Year built

1916

Lot size

0.10 AC

Property size (Sq ft)

5,550 SF

Property type

Apartment buildings

Description

This exceptional three-unit apartment building, located at 18 Fainwood Circle in Cambridge, MA, presents a compelling investment opportunity. Built in 1916, this three-story building boasts 3,669 square feet of net rentable space within a total of 5,550 square feet. The property sits on a 0.1-acre lot and offers three five-room, three-bedroom, one-bathroom units, each separately metered for gas (steam radiators), hot water, and electricity. Unit 1 includes an in-unit washer/dryer and an enclosed porch, while Units 2 and 3 share a basement laundry facility and feature front and rear porches. The property also includes tandem parking accommodating three vehicles. Recent capital improvements have been made, and there's potential for rental income increases through unit upgrades (e.g., adding a second bathroom) or conversion to four-bedroom units. The property's strong location in Inman Square, near Central and Union Squares (both less than 0.7 miles away) and Harvard Square (1 mile away), offers easy access to public transportation (Red and Green Lines, multiple bus routes) and major highways (I-90 and I-93 within approximately 1.7-1.8 miles). The surrounding area features numerous amenities, including Whole Foods and Cambridge Hospital. The property's current Net Operating Income (NOI) is $101,356, and the asking price is $2,400,000. This well-maintained asset is situated in a high-demand rental market with significant growth potential. The property is ideal for an investor seeking a turnkey investment with strong income growth prospects in a thriving urban location.

Location Insight

City

Cambridge

County

Middlesex

State

Massachusetts

Latitude

42.3732

Longitude

-71.1035

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