Ian Teng Acquires Multifamily Property In Framingham, MA For $1.05M
76 Lake Avenue
$1,050,000
$388/SF
Building Size
2,700 SF
Asset Type
MultiFamily
Closing
Jun 20, 2024
AI
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.
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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93