North Framingham Multifamily Investment
19-21 Chestnut Street Framingham, MA 01701
19-21 Chestnut Street, Framingham, MA, 01701
$1,700,000
For Sale
$1,700,000
Eight-unit multifamily property in Saxonville Village, Framingham.
Property Size6,586 SF
Price / SF$258.12
Days on Market89
Property Features for 19-21 Chestnut Street
General Information
- Standard status
- Active
- Size
- 6,586 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1882
Listing agency
Coldwell Banker Realty - Framingham
(508) 561-1618
Listed by
Diane B. Sullivan · License #449502655
(508) 561-1618
Source
Liongatere
Added: Apr 25 Updated: Jul 10 at 1:17PM Checked: Jul 20 at 4:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Framingham
Investment Insights
Based on property information with market context.
Located in the heart of Saxonville Village in North Framingham, this eight-unit multifamily property offers an investment opportunity. The building has 6586 square feet of living space, comprising five one-bedroom units, one studio unit, and two two-bedroom units. One unit is completely gutted, and a second unit is approximately two-thirds renovated. The property features an abundance of parking in the back, providing ease and flexibility for tenants. The location is near a coffee shop, restaurants, a library, the Sudbury River, walking trails, and public transportation. All units except the studio have in-unit washer/dryers. All tenants are tenant at will. There is an easement on the property with access to Elm Street.
Key Highlights
- Eight‑unit multi‑family property in North Framingham's Saxonville Village.
- Significant living space: 6,586 sq ft with a mix of unit types (5 one‑bedroom, 1 studio, 2 two‑bedroom).
- In‑unit washer/dryer for all units except the studio.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $251.3k | $38.16 |
| − Vacancy | −$13.1k | −$1.98 |
| EGI | $238.3k | $36.18 |
| − OpEx | −$107.2k | −$16.28 |
| NOI | $131.0k | $19.90 |
6,586 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.18M
NOI $131,039 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.90M
$3.41M – $4.55M
NOI $272,922 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight-unit multifamily property in Saxonville Village, Framingham.
Where is this apartment building located?
The property is located at 19-21 Chestnut Street Framingham, MA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Eight‑unit multi‑family property in North Framingham's Saxonville Village.; Significant living space: **6,586 sq ft** with a mix of unit types (5 one‑bedroom, 1 studio, 2 two‑bedroom).; **In‑unit washer/dryer** for all units except the studio.
