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Ian Teng Acquires Multifamily Property In Framingham, MA For $1.05M

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SOLD
$1,050,000

Massachusetts

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MultiFamily2,700 SF
Sold 06/20/2024
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Property Image
SOLD

Ian Teng Acquires Multifamily Property In Framingham, MA For $1.05M

76 Lake Avenue

See Similar Deals
MultiFamily2,700 SF
Sold 06/20/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$388
Total Square Footage:2,700 SF
Transaction Type:Sale

Located at 76 Lake Avenue in Framingham, MA, this multifamily property was sold for $1,050,000. The 2,700 square feet asset offers sweeping views of Waushakum Pond and features a renovated lower level apartment, solar panels, and access to outdoor recreational space at Anna Murphy Playground.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,050,000
  • Units: 2
  • Price per Unit: $525,000
  • Price per Square Foot: $389
  • Address: 76 Lake Avenue, Framingham, MA
  • Market: Framingham, MA

The buyer's representative for this transaction was Ian Teng from Redfin, while the seller's representative was Collin Bray from Century 21 Cityside. Both played crucial roles in the successful sale of this unique waterfront property.

Players

Collin Bray
9 deals$26.6M volume
BROKER

Ian Teng
Redfin
1 deal$1.1M volume(661) 809-7919
BROKER

Details

SOLD
IMAGE: Ian Teng & Collin Bray DATE: 06/20/2024 ADDRESS: 76 Lake Avenue MARKET: Framingham, MA ASSET TYPE: Multifamily BUYER'S REP: Ian Teng - Redfin (@RedfinRealEstate) SELLER'S REP: Collin Bray (@CollinBray) - Century 21 Cityside (@Century21Cityside) SALE PRICE: $1,050,000 UNITS: 2 ~ PPU: $525,000 SF: 2,700 ~ PPSF: $389 NOTE: 76 Lake Ave, Framingham, MA 01702, a unique waterfront home, sold for $1,050,000. With sweeping views of Waushakum Pond, this property offers a serene New England lifestyle, featuring a renovated lower level apartment for additional income or private use, solar panels for eco-friendly living, and ample outdoor recreational space at Anna Murphy Playground across the street.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$3,730.43
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