896-898 Massachusetts Ave Multifamily Building

896–898 Massachusetts Avenue and 52 Hancock Street present an unmatched multi-tenant redevelopment opportunity in the heart of Cambridge, Massachusetts. Situated between Harvard Square and Central Square, this property includes a mixed-use building with two retail storefronts, 10 apartment units, and 19 parking spaces, along with a separate 3,600-square-foot parcel at 52 Hancock Street that provides nine off-street parking spaces and additional development potential.

The existing structure at 898 Massachusetts Avenue may be razed for new construction. Recent zoning changes now allow for a residential building up to 75 feet in height, or approximately six stories, creating a valuable opportunity for density in a submarket where demand for housing remains consistently strong. With residential leases converting to tenant-at-will status at the end of August, developers can benefit from a smooth and timely transition into the redevelopment phase.

52 Hancock Street, the adjacent parcel, offers added flexibility and may support a separate building up to four stories in height. Both sites are walkable to Harvard University, MIT, the Red Line MBTA station, and various restaurants, shops, and cultural venues. The Harvard-MIT submarket represents one of the lowest vacancy rates in the nation, driven by affluent young professionals and a mix of university, life science, and tech-sector demand.

This development site sits at the center of a thriving, high-income rental market. A local population of approximately 237,500 residents live within two miles, representing an average household income exceeding $130,500 annually. Don't miss the opportunity to deliver new housing in a proven growth corridor where zoning, access, and demand align for long-term success.