FRAMINGHAM – Northeast Private Client Group closed the sale of 17 & 23 Raymond Street in Framingham.
This 12-unit multifamily building traded for $1,250,000 to Union Realty Trust.
The seller was VTT Management Inc. of Framingham. The Raymond Street sale was finalized in December 2018.
The two properties include a 5-bedroom, 5-bath 2,795 square foot home and a 9,466 square foot lot off Union Avenue between Marian High and MetroWest Medical Center.
The house lot was valued at $435,500 in 2018, by the City of Framingham.
“This equates to a price of $104,166 per unit and a capitalization rate of 8.2 percent based on the current net income,” said the Broker.