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53 Thomas Street

Updated Dec 4, 2024

Martha Brown Of Leading Edge Real Estate Sells Multifamily Property In Belmont For $1.5M
SOLDMultiFamily

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.

Players

Martha Brown

Leading Edge Real Estate

Broker

$3M

vol

2 deals

Broker

Belmont MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $750K per unit across 2 units on a published $1.5M (2024).

Visit Martha Brown to view all their deals.

Browse Belmont multifamily sales on Traded.

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

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