Rice & Rindge 1 Multifamily Properties Offered at $15,821,930 CAD in Cambridge, MA

Executive Summary
Rare opportunity to acquire two multifamily assets in North Cambridge with significant near-term redevelopment potential. 92 Rice St. and 141-143 Rindge Ave. are being offered together at an asking price of $11,500,000, creating a combined parcel of approximately 19,009 square feet in a highly supply-constrained market.
The existing improvements include a 10-unit apartment building at 92 Rice Street and a 5-unit apartment building at 141 Rindge Avenue, offering immediate in-place income with substantial long-term upside.
Cambridge’s recently adopted multifamily zoning reform materially enhances the value of assembled residential parcels such as this one. Under the updated zoning framework, projects on lots exceeding 5,000 SF may support up to six stories of residential development, subject to compliance with the City’s Inclusionary Housing requirements.
With over 19,000 SF of land area, this assemblage presents a compelling opportunity for investors and developers seeking scale, density, and long-term value creation in one of Greater Boston’s strongest housing markets.
Zoning Summary
Properties fall within Cambridge’s updated residential zoning framework (Residence C-1 equivalent), allowing:
4 stories by right
Up to 6 stories on parcels over 5,000 SF
Height bonus contingent upon Inclusionary Housing compliance
The combined parcel size of approximately 19,000 SF positions this offering to fully capitalize on the City’s recent zoning changes.
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
Positioning Statement
This offering represents a rare opportunity to control scale in Cambridge with both in-place income and by-right density potential. The pricing reflects a compelling basis for developers seeking to unlock value through Cambridge’s evolving zoning landscape while maintaining interim cash flow.