Steven Savarese Of Senné Facilitates $1.4M Sale Of Multifamily Property At 61 Pine Street Belmont
61 Pine Street
$1,400,000
$477/SF
Building Size
2,931 SF
Asset Type
MultiFamily
Closing
Aug 1, 2024
AI
A multifamily property located at 61 Pine Street in Belmont, MA has been sold for $1,400,000. The property consists of 2 units and encompasses a total of 2,931 square feet, resulting in a price per unit of $700,000 and a price per square foot of $478.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Units: 2
- Square Footage: 2,931
- Price Per Unit: $700,000
- Price Per Square Foot: $478
- Broker: Steven Savarese - Senné
- Date of Sale: 08/01/2024
- Market: Belmont, MA
This transaction was facilitated by broker Steven Savarese from Senné, representing the interests of the involved parties in this multifamily sale. The deal occurred in a notable market area, contributing to the dynamics of property transactions in the region.
Players
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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93