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41-49 Belmont Avenue

David Thompson & Raquel Medina Facilitate $2.09M Multifamily Sale In Springfield
SOLDMultiFamily

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:

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

Raquel Medina

Lock & Key Realty

Broker

$2.1M

vol

1 deal

Broker

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