597 Union Ave, Framingham, MA 01702
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$1,500,000
5 Unit
9 Beds
5 Baths
3794 SQFT
0.37 Acre

Property Description

This spacious and well-maintained five-family property is ideally located near Framingham State University and the commuter rail station, offering excellent rental potential. Featuring ample off-street parking and a two-car garage, this investment is both convenient and highly desirable. Two of the five units have been fully renovated. The property boasts vinyl siding, a newer roof, and updated electrical systems, including a landlord meter. All utilities are separately metered, and newer water heaters have been installed. The building consists of four two-bedroom units and one studio/one-bedroom unit, providing a diverse rental mix. Professionally managed and meticulously maintained, this is a true turn-key investment. Additionally, there is potential for redevelopment, with the possibility of constructing 9 to 12 condominium units. Don't miss this rare opportunity—schedule a showing today!

Property Details tap to expand

Building Information

  • Total Units: 5
  • Total Floors: 7
  • Total Bedrooms: 9
  • Total Full Baths: 5
  • Amenities: Highway Access, House of Worship, Laundromat, Medical Facility, Park, Public School, Public Transportation, Shopping, T-Station, University, Walk/Jog Trails
  • Basement Features: Bulkhead, Dirt Floor
  • Common Rooms: Kitchen, Living Room
  • Common Interior Features: Tile Floor, Upgraded Cabinets, Upgraded Countertops
  • Common Appliances: Dishwasher, Range, Washer & Dryer Hookup, Washer Hookup
  • Common Heating: Electric, Extra Flue, Forced Air, Forced Air, Gas, Heat Pump, Oil, Space Heater
  • Common Cooling: None

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 11394
  • Gross Expenses: 29847
  • Electric Expenses: 915
  • Water/Sewer: 9700
  • INSC: 1808
  • Repairs & Maintenance: 11418
  • RFS: 2992
  • Net Operating Income: 81546

Utilities

  • Heat Zones: 5
  • Cooling Zones: 2
  • Electric Info: Circuit Breakers, Underground
  • Utility Connections: for Electric Oven, for Gas Range, Varies per Unit, Washer Hookup
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 4 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1877
  • Type: 5+ Family - 5+ Units Up/Down
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone, Granite
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Hardwood, Tile, Vinyl
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73345668
  • Last Updated: 04/02/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
03/22/2025Active$1,500,000$395MLSPIN
03/18/2025New$1,500,000$395MLSPIN
03/18/2025Active$1,500,000$395MLSPIN
03/14/2025New$1,500,000$395MLSPIN

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Seller's Representative: Robert Brown, RE/MAX Executive Realty
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2025-04-02 11:17:00