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597 Union Avenue

Updated Jul 18, 2025

Timothy Martel Purchases Multifamily Property At 597 Union Avenue Framingham For $1.35M
SOLDMultiFamily

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

Luke Walen

Keller Williams Realty

Broker

$3.4M

vol

2 deals

Broker
Re/Max
Re/MaxBrokerage

Framingham MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $355 per square foot on a published $1.4M for 3,794 square feet (2025).

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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

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