Renovated Multifamily
For Sale
$1,100,000
62-66 Cedar Street, Framingham, MA 01702
Recently renovated triplex with off-street parking for up to eight vehicles and outdoor space on a sizable lot.
Property Size3,347 SF
Price / SF$328.65
Days on Market67
Property Features for 62-66 Cedar Street
General Information
Standard status
Active
Size
3,347 SF
Property subtype
Multi-family / 3 Family
Building Details
Year Built
1900
Listing Agency:
Keller Williams Boston MetroWest
(508) 877-6500
Listed By:
Tiandao Dong · License #9583475
(508) 877-6500
Source:
Compass
Added: May 25
Changed: Jul 21
Last Checked: Jul 30 at 12:12PM
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 Keller Williams Boston MetroWest
Investment Insights
Based on property information with market context.
This recently renovated triplex at 62-66 Cedar Street offers a strong residential income setup with multiple units and an emphasis on updated interiors. The property includes substantial outdoor space and off-street parking for up to eight vehicles, supporting flexible day-to-day operations for residents.
Located in Framingham, the home is a few blocks from downtown and the commuter rail, offering convenient access for renters who prioritize connectivity to surrounding employment centers.
The configuration and updates are geared toward tenant-readiness, making this an attractive option for buyers seeking a turn-key residential income property with practical on-site parking and outdoor space.
Located in Framingham, the home is a few blocks from downtown and the commuter rail, offering convenient access for renters who prioritize connectivity to surrounding employment centers.
The configuration and updates are geared toward tenant-readiness, making this an attractive option for buyers seeking a turn-key residential income property with practical on-site parking and outdoor space.
Key Highlights
- Recently renovated triplex at 62‑66 Cedar St with 3,347 SF of living space
- Set on a 6,970 SF lot with outdoor space plus off‑street parking for up to 8 vehicles
- 4 total bathrooms (4 full baths) with remodeled interior, upgraded cabinets, and upgraded countertops
Financial Insights For Multifamily LT 5
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 | $106.4k | $31.80 |
| − Vacancy | −$5.3k | −$1.57 |
| EGI | $101.2k | $30.23 |
| − OpEx | −$30.4k | −$9.07 |
| NOI | $70.8k | $21.16 |
3,347 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$885.3K – $1.18M
NOI $70,824 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$951.3K
$832.4K – $1.11M
NOI $66,594 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,699 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,952
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?
Triplex - Recently renovated triplex with off-street parking for up to eight vehicles and outdoor space on a sizable lot.
Where is this triplex located?
The property is located at 62-66 Cedar Street 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: Recently renovated triplex at 62‑66 Cedar St with 3,347 SF of living space; Set on a 6,970 SF lot with outdoor space plus off‑street parking for up to 8 vehicles; 4 total bathrooms (4 full baths) with remodeled interior, upgraded cabinets, and upgraded countertops
