42 MARKET Street

About this home.

Rare downtown Cambridge four-plex investment offering stable income and exceptional tenant amenities. This fully occupied property generates over $77,000 in gross annual income with an approximate 5.76% cap rate, making it an attractive addition to an investor’s portfolio. The building consists of four well-sized 2-bedroom, 1-bath units, each with its own private single-car garage, a feature rarely found in comparable multi-unit properties and highly valued by tenants. Each unit enjoys equal access to a private rear patio, while the property provides common laundry facilities and additional on-site parking. The property benefits from steady tenants, contributing to reliable and consistent rental income. Another key highlight is the C1RM1 zoning, which permits a range of commercial and mixed-use uses in addition to residential, offering flexibility for investors seeking future repositioning opportunities, redevelopment potential, or owner-occupancy with a business component, subject to municipal approvals. Situated steps from public transit and minutes from Downtown Galt, the property is close to restaurants, shops, the Gaslight District, the University of Waterloo School of Architecture, the Cambridge Farmers’ Market, Mill Race Park, and the Grand River, all of which help support strong tenant demand. A compelling opportunity for investors seeking stable cash flow today with long-term upside through flexible zoning and a downtown location. (id:59491)

The full record.

How this listing prices against City Core/Wellington.

City Core/Wellington had just 1 sale compared with 18 active listings, making it one of the softer markets in Cambridge this month. The lone sale closed at $490,000 in 14 days and 98.02 percent of list, but that single result is less important than the heavy inventory, especially with 13 active condo listings. Right now, this area looks slower-moving, with buyers able to be selective and sellers needing sharp pricing to stand out.

Estimate the monthly carry.