Four-Unit Residential Income
For Sale
$1,150,000
308 Hollis St, Framingham, MA 01702
Four-family building offering unit variety from one 3-bedroom through two 1-bedroom units.
Property Size3,089 SF
Days on Market41
Property Features for 308 Hollis St
General Information
Standard status
Active
Size
3,089 SF
Total Parking Spaces
8
Property subtype
Multifamily
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,572
Building Details
Building Size
3,089 SF
Year Built
1867
Listing Agency:
REMAX Executive Realty
(508) 435-6700
Listed By:
Robert Brown
Source:
Classifiedrealtygroup
Added: Jul 16
Changed: Aug 24
Last Checked: Aug 24 at 3:30AM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This well-maintained four-family residential income property totals seven bedrooms across four units, including one 3-bedroom unit, one 2-bedroom unit, and two 1-bedroom units. The exterior features low-maintenance vinyl siding. Each unit offers separate utilities, supporting straightforward day-to-day management.
The property provides ample off-street parking for tenants. The location is convenient to shopping, restaurants, public transportation, and major commuter routes.
With a clean, well-kept unit mix and separate utilities in place, the building is set up as an income-producing multifamily asset for both investors and owner-occupants seeking rental revenue.
The property provides ample off-street parking for tenants. The location is convenient to shopping, restaurants, public transportation, and major commuter routes.
With a clean, well-kept unit mix and separate utilities in place, the building is set up as an income-producing multifamily asset for both investors and owner-occupants seeking rental revenue.
Key Highlights
- Well‑maintained 4‑family property built in 1867
- 7 total bedrooms with a unit mix of one 3‑bedroom, one 2‑bedroom, and two 1‑bedroom units
- Separate utilities for all units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,364
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,307,280
$1.3M
Cap Rate 7%
$933,771
$933.8K
Cap Rate 9%
$726,267
$726.3K
Market Conditions
NOI Build-Up for 3,089 SF
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.
Gross rent
$98.2K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$93.4K $30.23/SF
− OpEx
−$28.0K −$9.07/SF
NOI
$65.4K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,307,280
Cap Rate 7%
$933,771
Cap Rate 9%
$726,267
Alternative Uses
Best Use
Multifamily LT 5
$933.8K
$817.1K – $1.09M
NOI $65,364 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$878.0K
$768.3K – $1.02M
NOI $61,461 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $128,007 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 01702, MA
39,515
Population
15,303
Households
2.6
Avg Household Size
35
Median Age
39%
College-Educated
83%
High-School Grad
8.2 sq mi
ZIP Area
4,819
Density / Sq Mi
$78,784
Median Household Income
$41,792
Median Earnings
$1,822
Median Rent
$563,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-family building offering unit variety from one 3-bedroom through two 1-bedroom units.
Where is this quadplex located?
The property is located at 308 Hollis St Framingham, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Well‑maintained 4‑family property built in 1867; 7 total bedrooms with a unit mix of one 3‑bedroom, one 2‑bedroom, and two 1‑bedroom units; Separate utilities for all units
