Rice & Rindge 1 Multifamily Properties Offered at $10,500,000 in Cambridge, MA

92-96 Rice Street and 141-143 Rindge Avenue represent a rare opportunity to acquire a fully assembled ±19,009 SF development site in North Cambridge positioned to benefit from Cambridge's recently adopted multifamily zoning reforms.
The assemblage currently consists of two multifamily properties containing fifteen residential units and approximately 18,000 SF of existing improvements, generating stable in-place income while providing a clear path toward higher-density redevelopment.
Based upon preliminary zoning and architectural analysis, the site appears capable of supporting a six-story multifamily development under Cambridge's new residential zoning framework. Conceptual massing studies prepared for the property indicate the potential for approximately 70 residential units within a six-story podium-style building while maintaining structured parking and Inclusionary Housing compliance.
The corner location at Rice Street and Rindge Avenue provides exceptional visibility and frontage within a highly desirable residential neighborhood located minutes from Alewife Station, Davis Square, Porter Square, and the employment centers of Cambridge and Greater Boston.
Unlike many redevelopment opportunities in Cambridge that require assemblage risk or significant entitlement uncertainty, the Property offers immediate control of a full block-front assemblage with sufficient land area to capitalize on the City's expanded residential density allowances.
For investors and developers seeking scale within one of the nation's most supply-constrained housing markets, Rice & Rindge Residences presents the unique combination of:
Existing cash flow during planning and entitlement.
A fully assembled ±19,009 SF development site.
Preliminary six-story redevelopment feasibility.
Potential for approximately 75 residential units.
Prime North Cambridge location.
Significant long-term value creation through increased residential density.
Existing Property Breakdown
92-96 Rice Street
Land Area: 7,549 SF
Units: 10
Living Area: 12,800 SF
Year Built: 1960
141-143 Rindge Avenue
Land Area: 11,460 SF
Units: 5
Living Area: 5,272 SF
Year Built: 1897