Ian Martin Purchases Multifamily Property At 46 Cedar Street Framingham For $2 Million
46 Cedar Street
$2,000,000
$337/SF
Building Size
5,928 SF
Asset Type
MultiFamily
Closing
Jan 15, 2025
AI
The property asset involved in this transaction is a multifamily unit located at 46 Cedar Street in Framingham, MA. The sale was finalized for a price of $2,000,000, encompassing a total of 10 units. The building has a total square footage of 5,928, with a price per unit of $200,000 and a price per square foot of $337.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 46 Cedar Street
- Market: Framingham, MA
- Units: 10
- Square Footage: 5,928
- Price Per Unit: $200,000
- Price Per Square Foot: $337
- Buyer: Ian Martin
- Seller: Daili Xiao
- Buyer's Representative: Hakim Sadler - MIG Realty
- Seller's Representative: Nelson Otuechere - NCO Realty Group
The key individuals in this transaction include Ian Martin, who acted as the buyer, and Daili Xiao, serving as the seller. The buyer was represented by Hakim Sadler from MIG Realty, while the seller was represented by Nelson Otuechere from NCO Realty Group. Each party played a significant role in facilitating this multifamily property sale.
Players
Framingham MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93