Updated Dec 4, 2024
Martha Brown Of Leading Edge Real Estate Sells Multifamily Property In Belmont For $1.5M
53 Thomas Street & 55 Thomas Street
$1,500,000
Units
2
Asset Type
MultiFamily
Closing
Jun 10, 2024
About this deal
AI
The property at 53-55 Thomas St in Belmont, MA was sold for $1,500,000 on June 10, 2024. This rare side-by-side 2-family home features 10 rooms, 5 bedrooms, 3 baths, separate driveways for each unit, and various modern amenities, making it an attractive option for both owner-occupants and investors.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Units: 2
- Price Per Unit: $750,000
- Address: 53-55 Thomas Street, Belmont, MA
- Market: Belmont, MA
- Buyer's Rep: The Elite Team - Phoenix Real Estate Partners
- Seller's Rep: Martha Brown - Leading Edge Real Estate
The deal was facilitated by Martha Brown from Leading Edge Real Estate representing the seller and The Elite Team from Phoenix Real Estate Partners representing the buyer, highlighting the expertise of the involved brokerage firms in closing notable transactions in the Belmont, MA real estate market.
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93