Four-Unit Residential Income
For Sale
$1,100,000
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
Price / SF$356.10
Days on Market97
Property Features for 308 Hollis St
General Information
Standard status
Active
Size
3,089 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
M
Net Operating Income
$96,000
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
Stories
5
Listing Agency:
REMAX Executive Realty
(508) 435-6700
Listed By:
Robert Brown
(508) 243-5015
Source:
Churchillprop
Added: Jul 16
Changed: Oct 10
Last Checked: Oct 19 at 4:35AM
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
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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 / Yr
$65,364
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
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
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 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 5.94%
Second Best
Apartment 5plus
$878.0K
$768.3K – $1.02M
NOI $61,461 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $128,007 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
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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
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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?
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 $1,100,000.
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
