Multi-Family Properties in Cambridge

The Cambridge multi-family market is arguably the most desirable small multi-family market in all of Massachusetts, except for perhaps chunks of neighborhoods in Boston. And with its high demand, comes sky high prices and extremely LOW cap rates.

A couple quick stats so you get a sense of how little multis exchange hands in Cambridge each year and for what price:

Only 63 multi-families sold in Cambridge in 2025 (as of 12/17/2025). And of those 53 were 2 or 3 families. The median sales price for 2-familes in Cambridge was $1.81M in 2025 and only 5 2-families in Cambridge sold for less than $1.25M. And the median sales price for a 3-family was $2.3M.

Here's an off-market 2-family I helped a client purchase and renovate in mid-Cambridge. We got a great deal, purchasing for $1.225M off-market after it was originally listed on-market for $1.5M.

So you might be asking - how are people cashflowing? The answer is, they probably aren’t. Many multi-family buyers in Cambridge are doing a few different things:

  1. Update and rent. Many buyers will go in, make significant updates, and rent the units at much higher prices. 

  2. Update and sell. Many buyers are actually developers with plans to condoize these units. Given the astronomical prices of Cambridge condos, particularly large condos in great units in Cambridge, the numbers frequently do work for this approach.

  3. Large down payment and hold. Some buyers are looking to park cash in a safe investment that they know won’t go down in value and will likely go up. Think 40-60%+ down payments. Oftentimes these buyers may be international clients with less faith in leaving cash in their home countries. 

If you have questions about YOUR Cambridge multi-family or you are looking to buy one yourself, give me a ring at 617-833-7457.