Renovated 31-Unit Apartment
For Sale
Contact for pricing
Pending
8-10 Richardson Circle, Framingham, MA 01702
Five-building multifamily cluster with updated kitchens, bathrooms, plumbing, electrical systems, and hardwood flooring.
Property Size23,323 SF
Days on Market160
Property Features for 8-10 Richardson Circle
General Information
Standard status
Pending
Size
23,323 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$482,899
Additional Details
Gross Income
$752,123
Multifamily Units
31
Building Details
Year Built
1902
Year Renovated
2020
Buildings
5
Units
27
Tenancy
Multi
Listing Agency:
Mercer Consulting LLC
Listed By:
Todd Carter · License #9552399
Source:
Crexi
Added: May 8
Changed: Sep 7
Last Checked: Oct 12 at 7:44PM
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 Mercer Consulting LLC
Investment Insights
Based on property information with market context.
This apartment portfolio comprises five buildings with 31 units across a single block on Richardson Circle in Framingham, Massachusetts. The 23,323-square-foot property was built in 1902 and has undergone substantial renovation, including hardwood flooring, contemporary kitchens, modern bathrooms, and updated plumbing and electrical systems throughout.
Located at 8-10 Richardson Circle, the property provides a concentrated multifamily footprint within Framingham, a MetroWest community. The renovated building systems and interiors offer a consistent physical platform across the cluster while retaining the scale of a multi-building residential asset.
Located at 8-10 Richardson Circle, the property provides a concentrated multifamily footprint within Framingham, a MetroWest community. The renovated building systems and interiors offer a consistent physical platform across the cluster while retaining the scale of a multi-building residential asset.
Key Highlights
- Five‑building, 31‑unit apartment portfolio
- 23,323‑square‑foot multifamily property
- Renovated hardwood floors, kitchens, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$464,049
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,280,980
$9.3M
Cap Rate 7%
$6,629,271
$6.6M
Cap Rate 9%
$5,156,100
$5.2M
Market Conditions
NOI Build-Up for 23,323 SF
Gross rent
$890.0K $38.16/SF
− Vacancy
−$46.3K −$1.98/SF
EGI
$843.7K $36.18/SF
− OpEx
−$379.7K −$16.28/SF
NOI
$464.0K $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%
$9,280,980
Cap Rate 7%
$6,629,271
Cap Rate 9%
$5,156,100
Alternative Uses
Best Use
Apartment 5plus
$6.63M
$5.80M – $7.73M
NOI $464,049 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.81M
$12.08M – $16.11M
NOI $966,499 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
31
Residential units
Location Intelligence
Trade Area within ½ mile
2,256
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five-building multifamily cluster with updated kitchens, bathrooms, plumbing, electrical systems, and hardwood flooring.
Where is this apartment building located?
The property is located at 8-10 Richardson Circle Framingham, MA.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: Five‑building, 31‑unit apartment portfolio; 23,323‑square‑foot multifamily property; Renovated hardwood floors, kitchens, and bathrooms
