The Rose Garden Apartments, located in Framingham, MA, have recently been sold for $16.5 million. The 72-unit complex spans over 70,551 square feet and offers a variety of studio, one-bedroom and two-bedroom units.
Marcus & Millichap’s Griffith Pepdjonovic Group represented the seller and successfully procured the buyer for this transaction. Senior Vice President Investments Tony Pepdjonovic stated that this property presents an excellent opportunity for value-add potential with its first trade in over two decades and already renovated units showcasing its potential for increased rents and enhanced returns through strategic improvements.
This recent sale highlights the strong demand for multifamily properties in Framingham’s market. With a prime location at 258 Union Ave., this apartment complex is sure to continue attracting investors looking to capitalize on its true value-add opportunity.
