Buying a Multi-Family in Harvard Square

If you are looking to target a multi-family in Harvard Square, my first piece of advice is good luck! :-) All joking aside, there are SO few multi-families that come up very close to Harvard Square, if you are dead set on buying one you might want to set aside 5 years.

As of this writing (12/10/2025), there was just ONE multi-family that sold within a ½ mile to Harvard Square. That was 28 Putnam Ave, a 3-family with 9 beds, 3 baths and 4,219 square feet of living area. All three units are in fine condition, but nothing special - very average in my opinion. All three units were 3 bed 1 baths and the property does have 3 off-street parking spots. 

This one was listed for $2.49M and ultimately sold for $3.02M very quickly. You may be asking how could someone possibly pay $3M for this property and cash flow? The answer is they can’t. The most likely buyer is a developer looking to convert all 3 units into condos and sell them.

So if you are looking for a multi-family in Harvard Square, generally my advice is to expand your search area because the pricing is such in this part of Cambridge where the numbers don’t work as a buy and hold and you are competing with deep-pocked developers who have another plan for the property and will pay the seller significantly more than you will be willing to pay. If you are looking to buy a multi-family in Cambridge, give me a ring and we can come up with a strategy based on your unique goals - my cell is 617-833-7457.