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16 Elmer St
Cambridge, MA 02138
Riverside Place · Multifamily Property For Sale
·
22 Units
PROPERTY FACTS
| No. Units | 22 | Lot Size | 0.31 AC |
| Property Type | Multifamily | Building Size | 21,293 SF |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built | 1990 |
| Building Class | C | Parking Ratio | 1.08/1,000 SF |
| Zoning | C-1 | ||
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 21,293 SF |
| No. Stories | 5 |
| Year Built | 1990 |
| Parking Ratio | 1.08/1,000 SF |
| Zoning | C-1 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Elevator
- Smoke Detector
ABOUT 16 ELMER ST , CAMBRIDGE, MA 02138
16 Elmer Street (also known as 143-159 Putnam Avenue) is an exceptional residential offering with 22 market-rate apartments. A lift slab steel, concrete, brick and stucco building that has stood the test of time and the façade still resembles a newly built appearance, maintenance free. The five-story apartment building was built in 1990, and offers a mix of two-bedroom (55%) and three-bedroom (45%) homes. According to the assessor’s office the building offers 21,300 sf of living space and a gross building area of 27,600 sf. These fully occupied apartments have in-place rents significantly below the market. As a 100% market-rate offering, the building offers a new owner the ability to push rents without any rent restrictions. Additionally, with elevator service, in-unit laundry, individual HVAC with separate utilities, private balconies and over 1:1 off-street parking ratio, 16 Elmer Street has amenities which are rare to the market. While the property has been kept up with general maintenance and upgrades as needed, there is enormous value-add potential through apartment enhancements. Given the strength of the condo market, 16 Elmer is also well positioned for a condo conversion.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 12 | - | 860 - 6,880 |
| 3+2 | 10 | - | 1,060 - 10,600 |
PROPERTY TAXES
| Parcel Number | CAMB-000130-000000-000167 | Improvements Assessment | $9,321,600 |
| Land Assessment | $4,295,100 | Total Assessment | $13,616,700 |
PROPERTY TAXES
