Sold In Belmont: The ‘Quintessential’ Multi-Family First Sale In 2018

Photo: Two-families are just as quintessential Belmont as the Colonial.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

• 28-30 Gilbert Rd., Multi-family (1923). Sold: $825,000. Listed at $899,900. Living area: 2,050 sq.-ft. 10 rooms, 4 bedrooms, 2 baths. On the market: 79 days.

I keep calling the Colonial-style residential structure the “quintessential house in the Town of Homes.” But really, shouldn’t it be the humble two-family? It makes up nearly 40 percent of all housing in Belmont, are located in most neighborhoods and provide some of the limited numbers of affordable and rental housing in town. 

Gilbert Road, which is chock full of “twos,” is where the first house sale in 2018 took place. From the outside, there’s not much to 28-30 Gilbert with its boring white vinyl siding and inconspicuous front entry. But inside are a pair of “starter” homes, especially for Belmont – about 1,000 square feet, five rooms, two beds and a bath. The interior has retained much of the original molding, hardwood floors and period features such as built-in cabinet/hutch. There are no photos of the bedrooms so you can suspect they’re a bit tight space-wise but all in all, a good investment if they are turned into condos. 

Sold in Belmont: Ending the Year with Million Dollar Multi-families

Photo: The multi-family at 7 Pine St. in the arbor-named neighborhood at the corner of Belmont and Trapelo.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

7 Pine St., Multi-family (1913). Sold: $1,199,000. Listed at $1,299,000. Living area: 2,754 sq.-ft. 11 rooms, 6 bedrooms, 3 baths. On the market: 114 days. Last sold: Dec. 2004, $650,000.

32 Chester Rd., Multi-family (1918). Sold: $1,135,000. Listed at $1,199,000. Living area: 2,772 sq.-ft. 12 rooms, 6 bedrooms, 2.5 baths. On the market: 56 days. Last sold: Nov. 1987, $322,500.

50 Bartlett Ave., Condominium/converted multi-family (1927). Sold: $536,000. Listed at $489,000. Living area: 1,140 sq.-ft. 5 rooms, 2 bedrooms, 1 baths. On the market: 50 days. Last sold: Oct. 2015, $448,000.

158 Watson Rd., Colonial (1935). Sold: $1,040,000. Listed at $925,000. Living area: 1,962 sq.-ft. 10 rooms, 4 bedrooms, 1.5 baths. On the market: 42 days. Last sold: Oct. 1992, $295,000.

16-18 Watson Rd., Multi-family (1939). Sold: $912,500. Listed at $825,000. Living area: 2,273 sq.-ft. 11 rooms, 3 bedrooms, 3 baths. On the market: 44 days. Last sold: Nov. 1987, $322,500.

It shouldn’t come as a surprise multi-family homes – which makes up a significant proportion of residential structures in Belmont – would follow the lead of the traditional single-detached dwellings in the ever-increasing escalation in value and sales price in Belmont’s housing market. Take a look at 7 Pine, which oversees the busy intersection of Belmont and Trapleo in the neighborhood of arbor named streets. This section of town, developed a decade or two after the turn of the last century, has seen the myriad of two-families that distinguish the area really pop in popularity due, in part, to the unique post Victorian, pre-Colonial styles – affectionately dubbed “Old Style” by the Belmont Assessors in the town’s property database – and the affordability of renting or owning a condo conversion.

Returning to 7 Pine, the assessed value was remarkably stable for a decade from 2004 to 2014 in the upper $600,000. But in the past three years, the property has increased in value by a third (in one year alone, 2015 to 2016, the assessed value jumped $170,000) to $953,000 in ’18. The property did undergo $30,000 in permitted renovations (replacing the windows a few years back), but other than that, it’s just the bubble-like skyrocketing of the price-tag on anything “Belmont” that can explain the rise in value. It has two nice, smallish units – with an eye-popping color selected for the walls – with original woodwork/moulding, updated kitchen/baths and nice porches. The best feature, for anyone who walks by the place, will know, is the sort-of English-style garden and landscaping. 

Sold in Belmont: Three Properties With The Dreaded One Bathroom

Photo: One bathroom didn’t hamper the sale of these three properties.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

• 32 Skahan Rd., Condo (1920). Sold for $589,000. Living area: 1,101 sq.-ft. 6 rooms, 2 bedrooms, 1 baths. On the market: 36 days. Last sold: Dec. 2008, $369,000.

27 Irving St.#2, Condo (1880). Sold for $480,000. Listed at $460,000. Living area: 827 sq.-ft. 4 rooms, 2 bedrooms, 1 bath. On the market: 36 days. Last sold: April 2006, $341,000.

69 South Cottage Rd.#2, Townhouse condo (2012). Sold for $1,298,000. Listed at $1,395,000. Living area: 2,481 sq.-ft. 7 rooms, 2 bedrooms, 2.5 baths. On the market: 153 days. Last sold: July 2012, $1,075,000.

209 Channing Rd., Brick ranch (1960). Sold for $695,000. Listed at $719,000. Living area: 1,428 sq.-ft. 5 rooms, 3 bedrooms, 1 baths. On the market: 87 days. Last sold: Oct. 1963, $20,800.

Sold In Belmont: Two Family Breaks Bank Selling For $1.22 Million

Photo: A two-family that sold for nearly one and a quarter million dollars? 

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

A pair of two-families on corner lots built in the same year, but way different sale prices. 

• 92-94 Creeley Rd., Two family (1922). Sold: $1,220,000. Listed at $1,220,000. Living area: 3,089 sq.-ft. 15 rooms, 5 bedrooms, 3 baths. On the market: 54 days. Last sold: Dec. 2008, $595,000.

• 717 Belmont St., Second-floor condo (1922). Sold: $445,000. Listed at $449,998. Living area: 1,380 sq.-ft. 6 rooms, 3 bedrooms, 1 baths. On the market: 90 days. Last sold: Condo master deed filed Aug. 2007.

They must have discovered gold in the basement of 92-94 Creeley Rd. Surely that would explain how a C+ rated, 95-year-old two family would sell for nearly one and a quarter million dollars. OK, I give you the opportunity of a first-floor rental, there’s some renovation – the last permitted work was completed in 2015 with the deck and renovated bathroom costing $27,400 – and it’s a corner lot at the intersection of Gilbert. But do those amenities require a $337,000 premium above the town assessed value (2017) of $883,000? It’s a good-sized house at more than 3,000 square-feet but that space fills 15 rooms, and the images of the interior don’t give you the sense of wide-open spaces. The seller did add a second floor – it’s the attic – to the owner’s unit, just don’t be too tall when standing due to the slant of the roof. All this and an unfinished basement – which will likely stay in its present state for storage now that the attic has become living space – and a road out front that must be high on Glenn Clancy’s pavement condition index of streets to be repaired.

So is 92-94 Creeley Rd. the harbinger of a new pricing reality in two family sales in Belmont or a Casandra of a real estate bubble? 

Sold In Belmont: Only Million Dollar Sales This Week, Please

Photo: Three million dollar plus sales including a 167 year old Dutch Colonial on Brighton within sight of Little Pond.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

5 South Cottage Rd., Contemporary townhouse (2008). Sold: $1,410,000. Listed at $1,438,000. Living area: 2,972 sq.-ft. 7 rooms, 3 bedrooms, 3.5 baths. On the market: 110 days. Last sold: Sept. 2010, $975,000.

167 Lewis Rd., Colonial (1935). Sold: $1,220,000. Listed at $1,375,000. Living area: 2,729 sq.-ft. 10 rooms, 4 bedrooms, 2.5 baths. On the market: 106 days. Last sold: May 2002, $755,000.

163 Brighton St., Dutch Colonial (1850). Sold: $1,190,000. Listed at $1,049,000. Living area: 2,592 sq.-ft. 9 rooms, 3 bedrooms, 2.5 baths. On the market: 57 days. Last sold: July 2014, $969,000.

Sold In Belmont: Ranch (House) On The Hill Sells For $1.14 Million

Photo: A ranch house built on a slab of concrete with oil heat and with a town grade of C+; that’s worth a cool million in Belmont.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

49 Robin Wood Rd., Ranch (1957). Sold: $1,140,000. Listed at $1,129,000. Living area: 2,144 sq.-ft. 7 rooms, 3 bedrooms, 2 baths. On the market: 50 days. Last sold: June 1989, $325,000. 

• 100 Common St. Apt. 2, Condominium (1880/1980). Sold: $430,000. Listed at $420,000. Living area: 1,278 sq.-ft. 3 rooms, 1 bedroom, 1 bath. On the market: 47 days. Last sold: June 2004, $379,000.

• 483 Pleasant St., [George Varnum Fletcher House] Second Empire/Free standing condo (1868). Sold: $1,770,000. Listed at $2,000,000. Living area: 4,776 sq.-ft. 10 rooms, 5 bedrooms, 3.5 baths. On the market: 104 days. Last sold: Sept. 2009, $1,305,375.

• 18 Woodland St. Unit 1, Condo in two-family (1910). Sold: $552,000. Listed at $525,000. Living area: 1,100 sq.-ft. 5 rooms, 2 bedrooms, 1 bath. On the market: 55 days. Last sold: New condo conversion.

• 39 Woods Rd., expanded Cape (1955). Sold: $910,000. Listed at $899,000. Living area: 1,546 sq.-ft. 6 rooms, 3 bedrooms, 2 baths. On the market: 54 days. Last sold: June 1991, $230,000.

Sold In Belmont: Another Million Dollar Sale On Pleasant Street

Photo: A beautiful Old-Style single family near Town Field sold below list but still near seven figures.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

• 53-55 Alma Ave., Two-family (1916). Sold: $855,000. Listed at $879,000. Living area: 2,300 sq.-ft. 15 rooms, 5 bedrooms,2 baths. On the market: 65 days. Last sold: March 1968, $0. 

• 470 Pleasant St., Brick Tudor/Old Style (1929). Sold: $1,400,000. Listed at $1,295,000. Living area: 3,841 sq.-ft. 10 rooms, 5 bedrooms, 3.5 baths. On the market: 139 days. Last sold: Sept. 2003, $624,900.

• 39 Gilmore Rd., Pre-war Cape (1941). Sold: $765,000. Listed at $799,000. Living area: 1,587 sq.-ft. 7 rooms, 3 bedrooms, 2 baths. On the market: 30 days. Last sold: Oct. 2006, $672,500. 

Sold In Belmont: Let The Fall Selling Season Begin

Photo: A beautiful Old-Style single family near Town Field sold below list but still near seven figures.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

• 39 Davis Rd., Two-family (1925). Sold: $810,000. Listed at $819,000. Living area: 2,098 sq.-ft. 10 rooms, 4 bedrooms, 2 baths. On the market: 64 days. Last sold: Dec. 2006, $534,000

• 14 Gale Rd., Hip-roof Colonial (1935). Sold: $980,000. Listed at $925,000. Living area: 1,860 sq.-ft. 8 rooms, 3 bedrooms, 2.5 baths. On the market: 50 days. Last sold: a long time ago (no on-line record with Assessors Dept.)

• 22 Troy Rd., Garrison Colonial (1935). Sold: $869,000. Listed at $930,000. Living area: 1,574 sq.-ft. 7 rooms, 4 bedrooms, 2.5 baths. On the market: 97 days. Last sold: Aug. 2002, $545,000.

• 76 Claflin St., Sort of Dutch Colonial-ish that was expanded (1929). Sold: $1,525,000. Listed at $1,550,000. Living area: 3,217 sq.-ft. 10 rooms, 4 bedrooms, 3 full, 2 half baths. On the market: 24 days. Last sold: April. 2012, $1,005,000.

• 72 Upland Rd., Old-Style (1911). Sold: $915,000. Listed at $925,000. Living area: 1,856 sq.-ft. 9 rooms, 4 bedrooms, 1.5 baths. On the market: 85 days. Last sold: Oct. 1993, $263,000.

Sold in Belmont: $3.5M For Slice of Former Pizza Mogul’s Homestead

Photo: A highlight of smart, architectural sensitive renovation in a split level in the Winn Brook.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

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• 27 Willow St., Old-style (1903). Sold: $1,075,000. Listed at $1,075,000. Living area: 2,557 sq.-ft. 8 rooms, 3 bedrooms, 2.5 baths. On the market: 81 days.

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• 7 Sherman St., Prewar Cape Cod (1940) Sold: $736,000. Listed at $769,000. Living area: 1,391 sq.-ft. 6 rooms, 2 bedrooms, 1.5 baths. On the market: 79 days.

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7 Sumner Ln., Something huge. Sold: $3,400,000. Listed at $3,350,000. Living area: 5,800 sq.-ft. (est). 12 rooms, 6 bedrooms, 5.5 baths. On the market: 685 days.

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• 141 Claflin St., Brick and cedar shingle old-style (1933). Sold: $1,075,000. Listed at $925,000. Living area: 2,184 sq.-ft. 8 rooms, 4 bedrooms, 1.5 baths. On the market: 42 days.

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• 80 Douglas Rd., Colonial (1940). Sold: $925,000. Listed at $849,000. Living area: 2,121 sq.-ft. 8 rooms, 3 bedrooms, 2.5 baths. On the market: 60 days.

An expensive slice in Belmont

Do you think that your children should strive for a career in STEM? How about health care? Finance? Forget all those loser jobs mentioned above. I want to say one word to you. Just one word. 

Pizza! As the actor, Kevin James said, “There’s no better feeling in the world than a warm pizza box on your lap.”

If there is an occupation with more than its fair share of ultra-wealthy entrepreneurs, it’s those who can build a better pie. Mike Ilitch, the owner of  Little Caesars Pizza, was worth $6.1 billion and owned two major sports teams when he died last month, Domino’s Pizza’s Tom Monaghan sold his business to Bain Capital for $1 billion, John Schnatter of Papa John’s Pizza is worth $750 million and the list goes on and on.

And Belmont has its pizza mogul. Joey Crugnale decided to start his pizza shop in Davis Square, Somerville in a storefront he bought in 1981 to prevent a competitor from opening a shop two doors from Crugnale’s first big hit, Steve’s Ice Cream. Out of that almost accidental piece of good fortune began Bertucci’s Brick Oven Pizzerias with its first-of-its-kind open-hearth brick ovens, specialty topping pies and cool, youthful vibe (the Somerville location had a bocce court in the basement). By the time he was outbid by the NE Restaurant Co. for his company in 1998, Crugnale had built an empire of 84 Bertucci’s worth millions.

In 1992, Crugnale used some of his pizza and ice cream money – he had sold Steve’s in 1982 – to purchase for $1.6 million one the largest (8,800 square feet!) residential houses in Belmont located at Concord Avenue and Sumner Lane – the “lane” runs from Concord to Somerset and borders the Weeks family property – from another food-based fellow, David Mugar of the Star Market fortune. (Mugar didn’t move far, just over to Marsh Street.) Not only is the house large – 17 rooms with five full and three half bathrooms! – it sits in the middle of a meadow, to provide maximum privacy. 

After living in his century-old brick manse for two decades, Crugnale decided to do with his property what he did with his pizza; cut it into slices and make a greater profit. 

In 2010, he got together with a development company called Concord Estates LLC run by Belmont’s favorite developer, Joe DeStefano, who paid Crugnale $1.8 million for five “slices” in 2010 at 1, 3, 5, 7 and 10 Sumner Lane.

Concord Estates had taken its time to sell not just the parcels but the custom-made houses with the first homes sold in 2015 with 1 Sumner selling for $3.2 million (6 beds, 5.5 baths, 6,440 sq.-ft.) while DeStefano took 3 Sumner for himself while 10 Sumner was sold in 2016 at $3.4 million.

And last week, 7 Sumner was sold for $3.4 million. So what do you get? From the sales pitch, you’ll live on a “brand new picturesque private road [which] offers in(-)town living in the most coveted exclusive Belmont Hill location” while its “rolling lawns and graceful old trees will give you the feeling of the [O]ld [S]outh.” The “Old South”? Really? On Sumner Lane, as in Fort Sumner? Is this manse being sold in Belmont, North Carolina?  

“This classic turn-of-the-century inspired new home will offer incredible country views, peeks of the Boston skyline and acres of conservation land. All of these homes are one of a kind built with incredible craftsmanship and refined details.” 

Sounds like you’d want to join the club? There’s one slice left on the plate at 5 Sumner according to the Belmont assessors.

Sold in Belmont: A Pair of Million Dollar Splits That Took Different Tacks

Photo: A highlight of smart, architectural sensitive renovation in a split level in the Winn Brook.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

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• 58 Crestview Rd., Split-level ranch (1959/2016 renovation). Sold: $1,500,000. Listed at $1,775,000. Living area: 4,200 sq.-ft. 7 rooms, 5 bedrooms, 4.5 baths. On the market: 79 days.

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544 Trapelo Rd., Two-family (1890). Sold: $680,000. Listed at $699,999. Living area: 1,747 sq.-ft. 10 rooms, 4 bedrooms, 2.5 baths. On the market: 157 days.

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61 Hoitt Rd., Split-level ranch (1957). Sold: $1,100,000. Listed at $1,100,000. Living area: 1,962 sq.-ft. 8 rooms, 4 bedrooms, 2.5 baths. On the market: 95 days.

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66-68 Chester Rd., Two-family (1917). Sold: $1,100,000. Listed at $1,025,000. Living area: 1,747 sq.-ft. 14 rooms, 6 bedrooms, 3 baths. On the market: 67 days.

After WWII, the rapidly growing middle class was seeking to leave the urban neighborhood and move to the expanding suburbs to find new homes with a modern design that wouldn’t cost an arm and a leg. Into that void came the Ranch, the sprawling single family with its long, close-to-the-ground outline, and wide open layout inspired by Frank Lloyd Wright’s Prairie homes. You can see many great examples of this architectural design on Belmont Hill, notably on Spring Valley Road. The design doesn’t particularly work well in New England: it’s best located in a flat landscape with few trees allowing sunlight to filter in which is hampered by the hills and wooded areas of the Northeast.

But by the 1970s, the design grew out of favor – the lack of natural light and the “wide-open spaces” of the run-on rooms – as hybrid postmodern homes with cathedral ceilings, skylights, island cooktops, and other ugly features dominated the demands of homebuyers.

In the past week, a pair of ranches, split-levels with upper “private” (bedrooms and baths) and lower “public” (living room/kitchen/dining rooms) levels, were sold taking different tacks to get to a seven-figure sales price.

On Crestview Road, the 57-year-old split was given an extensive makeover by the developer who bought the house for $1,025,000 million in August 2015 to flip it. He dropped $178,807 into the structure, adding nearly 1,300 sq.-ft. (the size of a two-bed condominium) with an expanded and renovated kitchen (with quartz counter tops!) with a pair of dishwashers (Two dishwashers?). But likely done anticipating what buyers would want, the developer added a vaulted ceiling in the living area which destroys the architectural integrity of the ranch design.

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With an assessed value of $1.36 million, the developer rolled the dice and marketed the place for an ambitious $1,775,000. But soon someone named “The slowing local real estate market” – Boston has dropped out of the top 20 strongest residential locations in the US at the end of ’16 – told the developer he was still selling a ranch. Soon the listing price fell three times by October to $1,575,000. And he still took a haircut on the final price of $1.5 million. Profit, but more of a razor-thin margin.

The ranch on Hoitt Road in the Winn Brook neighborhood – a block from the school – also saw a $34,000 kitchen renovation in 2013/14 that included a center island, custom cabinets, new appliances and … quartz counter tops! A trend worth praising.

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But rather than blow up the rooms, the updates in the “public” areas were faithful to the split-level history, keeping the architectural details – ornamental iron railing, flat brick fireplace, high windows – during the makeover. The highlight is expanding the patio into a three-season living space (what a great way to use the patio’s support beams as an aesthetic focus) opening up into the living room. 

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Purchased for $700,000 in ’11, listed and sold at $1.1 million.