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Belmont Multifamily Property Sold For $1.565M With Brokers Dan Loprete & Ari Koufos

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SOLD
$1,565,000

Massachusetts

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MultiFamily7,114 SF
Sold 07/19/2024
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Property Image
SOLD

Belmont Multifamily Property Sold For $1.565M With Brokers Dan Loprete & Ari Koufos

37 Willow Street & 39 Willow Street

See Similar Deals
MultiFamily7,114 SF
Sold 07/19/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$220
Total Square Footage:7,114 SF
Transaction Type:Sale

A two-family home located at 37-39 Willow Street in Belmont, MA, has been sold for $1,565,000. The multifamily property encompasses a total of 3,557 square feet and consists of 2 units, yielding a price per unit of $782,500 and a price per square foot of $440. This brick property, built in 1936, features 7 bedrooms and 2 bathrooms, along with spacious living areas, fireplaces, and a backyard. The second-floor unit includes additional amenities such as a bonus sunroom and a 3-season porch.

Summary of transaction details:

Dan Loprete and Ari Koufos served as the brokers representing the transaction, facilitating the sale of the property in the competitive Belmont market. Their involvement played a crucial role in the successful closing of this multifamily home.

Players

Ari Koufos
13 deals$16.2M volume
BROKER

Dan Loprete
Realty Executives
16 deals$14.7M volume
BROKER

Details

SOLD
IMAGE: Dan Loprete & Ari Koufos DATE: 07/19/2024 ADDRESS: 37-39 Willow Street MARKET: Belmont, MA ASSET TYPE: Multifamily BROKERS: Dan Loprete (@DLoprete8) & Ari Koufos (@AriKoufos_RealEstate) - Realty Executives (@RealtyExecutivesBostonWest) SALE PRICE: $1,565,000 UNITS: 2 ~ PPU: $782,500 SF: 3,557 ~ PPSF: $440 NOTE: A two-family home in Belmont's Payson Park sold for $1.565M, featuring 7 beds and 2 baths across 3,557 sq ft. The 1936-built brick property offers spacious living areas, fireplaces, and a backyard, with the second-floor unit including a bonus sunroom and 3-season porch.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,560.11
Cash-on-Cash Return-1.27%
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