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Framingham Multifamily Sold For $6.575M With Brokers Ryan Quinn John Federico & Harry Verenis

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SOLD
$6,575,000

Massachusetts

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MultiFamily26,400 SF
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SOLD

Framingham Multifamily Sold For $6.575M With Brokers Ryan Quinn John Federico & Harry Verenis

10 Centennial Place

See Similar Deals
MultiFamily26,400 SF
Sold
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$249
Total Square Footage:26400 SF
Transaction Type:Sale

The property asset at 10 Centennial Place in Framingham, MA is a multifamily structure consisting of 22 units. It encompasses a total square footage of 26,400, with a price per unit of $298,863 and a price per square foot of $249. The transaction was executed at a sale price of $6,575,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,575,000
  • Number of Units: 22
  • Square Footage: 26,400
  • Price Per Unit: $298,863
  • Price Per Square Foot: $249
  • Date of Transaction: 08/28/2024
  • Market: Framingham, MA

In this transaction, the brokers involved were Ryan Quinn, John Federico, and Harry Verenis, representing Grove Property Group. Their role was critical in facilitating the details surrounding this multifamily property deal.

Players

Harry Verenis
11 deals$29.6M volume
BROKER

John Federico
Grove Property Group
52 deals$174M volume(617) 812-9035
BROKER

Ryan Quinn
Grove Property Group
40 deals$135.8M volume(617) 285-9363
BROKER

Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: Ryan Quinn, John Federico & Harry Verenis DATE: 08/28/2024 ADDRESS: 10 Centennial Place MARKET: Framingham, MA ASSET TYPE: Multifamily BROKERS: Ryan Quinn (@_RyanQuinn), John Federico (@GPGBoston) & Harry Verenis (@HarryVerenis) - Grove Property Group SALE PRICE: $6,575,000 UNITS: 22 ~ PPU: $298,863 SF: 26,400 ~ PPSF: $249

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$350,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,359.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,168.85
Annual Debt Service$374,026.25