Tenant-Occupied
62-64 Pearl St., Framingham, MA 01702
For Sale
$945,000
Three residential units are occupied, with leases in place for the first and second floors.
Property Size3,384 SF
Days on Market51
Property Features for 62-64 Pearl St.
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Financials
Cap Rate
Gross Income
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Commonwealth Standard Realty Advisors
Listed By:
Elizabeth Bain · License MA #449590647
(508) 954-1935
Source:
Classifiedrealtygroup
Added: Sep 24
Changed: Nov 3
Last Checked: Nov 12 at 4:50AM
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 Commonwealth Standard Realty Advisors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-family property in Framingham was built in 1890 and is being offered with tenants in place. The first- and second-floor units have leases; the third-floor tenancy is at will. The property reports an approximately 7% cap rate and $7,500 per month in gross rent, figures that are not repeated here as dollar amounts.
Improvements include hot water tanks installed in 2017, 2022, and 2024. The first-floor kitchen and bathroom were updated about six years ago, and a second bathroom was added in 2017. The second unit has a stove that is four years old, and its bathroom was updated about six years ago. The property is near downtown Framingham and the commuter rail.
Improvements include hot water tanks installed in 2017, 2022, and 2024. The first-floor kitchen and bathroom were updated about six years ago, and a second bathroom was added in 2017. The second unit has a stove that is four years old, and its bathroom was updated about six years ago. The property is near downtown Framingham and the commuter rail.
Key Highlights
- Three‑family property with tenants in place
- Approximately 7% cap rate
- First- and second‑floor units have leases; third‑floor tenancy is TAW
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,607
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,432,140
$1.4M
Cap Rate 7%
$1,022,957
$1.0M
Cap Rate 9%
$795,633
$795.6K
Market Conditions
NOI Build-Up for 3,384 SF
Gross rent
$107.6K $31.80/SF
− Vacancy
−$5.3K −$1.57/SF
EGI
$102.3K $30.23/SF
− OpEx
−$30.7K −$9.07/SF
NOI
$71.6K $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%
$1,432,140
Cap Rate 7%
$1,022,957
Cap Rate 9%
$795,633
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$895.1K – $1.19M
NOI $71,607 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$961.9K
$841.6K – $1.12M
NOI $67,330 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,232 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,313
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
$563,600
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Middlesex County, MA
Properties on Market for Triplexes in Middlesex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units are occupied, with leases in place for the first and second floors.
Where is this triplex located?
The property is located at 62-64 Pearl St. Framingham, MA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Three‑family property with tenants in place; Approximately 7% cap rate; First- and second‑floor units have leases; third‑floor tenancy is TAW
