Buying a Development Opportunity in Inman Square

I find the most common flavor when it comes to development opportunities close to Inman Square is to find a 2-family property, which is in poor condition. The properties need to be purchased at a great price, completely gut renovated, and then converted into condos and sold off. The most typical layout is the basement plus the first floor becomes the first unit and the second plus third floor becomes the second unit.

In recent years this 2-family condo conversion play has become much more challenging to make work - mainly because multi-family sales prices remain high in Inman Square, interest rates are high, building costs are high, and luxury condo prices have softened a bit. The result is developers really need to find a needle in a haystack to make the numbers work in and around Inman Square as of this writing (12/11/2025). 

Having said that, I scout multi-families in Cambridge every single day and if a multi-family opportunity comes up where it looks like the numbers could work, there’s a good chance I will find it before most anyone else. If you are looking for a two family flip OR a much bigger development play in Inman Square, Cambridge, give me a call and I will keep you posted! My cell is 617-833-7457.