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46 Cedar Street

Ian Martin Purchases Multifamily Property At 46 Cedar Street Framingham For $2 Million
SOLDMultiFamily

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

Hakim Sadler

MIG Realty

Broker

$68.3M

vol

34 deals

Broker

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