David Thompson & Raquel Medina Facilitate $2.09M Multifamily Sale In Springfield
41-49 Belmont Avenue
$2,090,000
$93/SF
Building Size
22,316 SF
Asset Type
MultiFamily
Closing
Apr 5, 2024
AI
The multifamily property at 41-49 Belmont Avenue in Springfield, MA, was sold for $2,090,000. Spanning 22,316 square feet, the property was purchased at a price per square foot of $94.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,090,000
- Address: 41-49 Belmont Avenue
- Market: Springfield, MA
- Buyer's Rep: David Thompson - Stuart St James
- Seller's Rep: Raquel Medina - Lock & Key Realty
David Thompson from Stuart St James acted as the buyer's representative in the transaction, while Raquel Medina represented the seller, Lock & Key Realty. The deal was successfully closed with a sale price of $2,090,000 for the multifamily property.
Players
Springfield 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
7.59%
Cash-on-Cash
-2.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93