putnam ave | cambridge 143-159143putnam.colliers.com/pdf/brochure-143-putnam-avenue.pdf143-159...
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143-159 Putnam Ave | cambridge
Colliers International is pleased to present for sale 143-159 Putnam Avenue, a 22-unit value-add apartment community located in the Harvard Square area of Cambridge, Massachusetts - one of the Northeast’s most prestigious neighborhoods. Built in 1990, the high-quality constructed building consists solely of 2- and 3-bedroom apartments each containing at least 1.5 bathrooms. The property boasts 100% occupancy with virtually no historic vacancy.
The asset provides residents 22 rentable off-street parking spaces, private outdoor decks for select units, and is strategically surrounded by the nation’s most respected institutions, innovative companies, and sought-after attractions.
Situated just two blocks from the banks of the Charles River, the asset presents unparalleled transit access. The site is located equidistant from two MBTA Red Line Stations (Harvard Square & Central Square). Additionally, 143-159 Putnam Avenue is just minutes from Harvard University, MIT, Kendall Square, and Downtown Boston.
Renowned Harvard University has called the neighborhood home since its inception in in 1636. In subsequent years, benefitting from the economic activity created by the University, the area surrounding Harvard has flourished into one of the most capable and well-performing submarkets for real estate investment in the Commonwealth.
143-159 Putnam Avenue is available on an unpriced basis. Additional due diligence materials are available for qualified buyers. Colliers will be conducting tours of the property in the coming weeks with a call for offers to follow. For additional information, please visit143Putnam.colliers.com.
executive summary
HARVARD UNIVERSITY
Location, Location, LocationNestled in one of the most revered neighborhoods in the Eastern United States, 143-159 Putnam Avenue presents investors the opportunity to penetrate one of the nation’s most highly sought-after real estate markets. The high-profile address is located just a short walk from Harvard University, the Charles River, numerous tourist attractions, as well as a plethora of dining and entertainment amenities.
Transit Oriented143-159 Putnam Avenue offers residents phenomenal transit access. The site is located equidistant and within walking distance of two (2) MBTA Red Line Stations (Harvard Square and Central Square) and is surrounded by various public bus stops as well as university and corporate sponsored shuttle routes. Additionally, the site is deemed a “Walkers Paradise”, receiving a 93 out of 100 Walkscore™ and a 99 out of 100 Bike Score.
Value-Add PotentialWhile the property has been very well-maintained, there is significant value-add play and potential to drastically increase rents through apartment and common area improvements.
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DR. MARTIN LUTHER KING JR. SCHOOL
143-159 Putnam Ave | cambridge
143-159 Putnam Avenue presents a rarely available multi-family offering within one of the most sought-after real estate markets in the nation. The 22-unit, value-add apartment community consists of five-stories and was built to last, with slab steel, concrete, and stucco by the current owners in 1990. 143 Putnam Avenue boasts a desirable unit mix consisting of solely two-bedroom (55%) and three-bedroom (45%) units. Apartments offer individual HVAC and in-unit washer/dryers.The asset spans 27,600 GSF of which 21,300 is considered livable space (per City of Cambridge public assessors website).
UNIT TYPE % OF UNITS
# OF UNITS
AVG. EST. NSF
TOTAL EST. RSF
2 Bed, 1.5 Bath 36% 8 890 6,880
2 Bed, 2 Bath 18% 4 965 3,740
3 Bed, 2 Bath 45% 10 1,190 10,600
Total/Average 22 1,015 21,220
Parking: 10 Covered Spaces 8 Surface Spaces 4 Tandem Surface Spaces 1 Non-Rentable Surface Space 23 Total Off-Street Spaces
property overview
UNIT MIX
2 BED1.5 BATH
2 BED2 BATH
3 BED2 BATH
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PUTNAM AVE
143-159 Putnam Ave | cambridge
JOHN W. WEEKS FOOTBRIDGE
MULTI-FAMILY ADVISORY GROUPChristopher Sower
Bruce Lusa617-330-8043
Jonathan Bryant617-330-8081
John Flaherty617-330-8151
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