North Framingham Multifamily Investment
For Sale
$1,700,000
19-21 Chestnut St, Framingham, MA 01701
Eight-unit multifamily property in Saxonville Village, Framingham.
Property Size6,586 SF
Price / SF$258.12
Days on Market184
Property Features for 19-21 Chestnut St
General Information
Standard status
Active
Size
6,586 SF
Property subtype
Multi-Family
Building Details
Year Built
1882
Listing Agency:
Coldwell Banker Realty - Framingham
Listed By:
Diane B. Sullivan · License #449502655
(508) 561-1618
Source:
Livianhomesct
Added: Apr 25
Changed: Oct 10
Last Checked: Oct 24 at 8:36PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,039
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,620,780
$2.6M
Cap Rate 7%
$1,871,986
$1.9M
Cap Rate 9%
$1,455,989
$1.5M
Market Conditions
NOI Build-Up for 6,586 SF
Gross rent
$251.3K $38.16/SF
− Vacancy
−$13.1K −$1.98/SF
EGI
$238.3K $36.18/SF
− OpEx
−$107.2K −$16.28/SF
NOI
$131.0K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,620,780
Cap Rate 7%
$1,871,986
Cap Rate 9%
$1,455,989
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
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Business Placement
Demographics for 01701, MA
33,005
Population
13,131
Households
2.5
Avg Household Size
44
Median Age
61%
College-Educated
95%
High-School Grad
16.9 sq mi
ZIP Area
1,953
Density / Sq Mi
$127,000
Median Household Income
$69,672
Median Earnings
$1,973
Median Rent
$612,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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 St 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.
