Updated Aug 25, 2026
Local Syndication Group Acquires Carlmont Hills Apartments In Belmont For $5.75M
2401 Carlmont Drive
$5,750,000
$329/SF
Building Size
17,478 SF
Asset Type
MultiFamily
Closing
Aug 17, 2026
About this deal
AI
A 16-unit multifamily property, Carlmont Hills Apartments, was sold for $5.75 million, located at 2401 Carlmont Drive in Belmont, California. The property spans 0.49 acres and comprises a total square footage of 17,478, with a price per square foot of $329.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,750,000
- Address: 2401 Carlmont Drive
- Market: Belmont, CA
- Acquisition Financing Arranged: $3,800,000
- Loan Terms: 10-year, 70% LTV loan at 5.85% interest
- Buyer: Local syndication group
- Seller: Local family office
Adam Levin and Robert Johnston from Marcus & Millichap represented the seller in this transaction, while Chad O’Connor from Marcus & Millichap Capital Corporation served as the mortgage broker, facilitating the acquisition financing for the buyer.
Players
Belmont MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93