Updated Jul 18, 2025
Timothy Martel Purchases Multifamily Property At 597 Union Avenue Framingham For $1.35M
597 Union Avenue
$1,350,000
$355/SF
Building Size
3,794 SF
Asset Type
MultiFamily
Closing
Jul 13, 2025
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 597 Union Avenue in Framingham, MA. The sale was completed at a price of $1,350,000, featuring a total of 5 units. The building encompasses a total square footage of 3,794, with a price per unit of $270,000 and a price per square foot of $355.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Address: 597 Union Avenue
- Market: Framingham, MA
- Units: 5
- PPU: $270,000
- SF: 3,794
- PPSF: $355
- Buyer: Timothy Martel
- Seller: Michael Bernier
- Buyer's Representative: Luke Walen - Keller Williams South Watuppa
- Seller's Representative: Robert Brown - Re/Max
The key individuals involved in this transaction include Timothy Martel as the buyer and Michael Bernier as the seller. The representatives for the deal were Luke Walen from Keller Williams South Watuppa representing the buyer and Robert Brown from Re/Max representing the seller.
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
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93