PRIME DEAL
Partnership buys Belmont House
Thursday, April 23, 1998
A look at a notable real estate deal in the Tristate:
Transaction: Partnership buys the Belmont House apartments in College Hill.
Sale price: $1 million.
Buyers: Holm Properties Ltd. LLC.
Seller:Harry Fath.
Brokers: Stephen M. Turman, Thomas C. Nurre Jr. and Jeffrey D. Dilbone, all of RE - MAX Greater Cincinnati Commercial Group, represented both sides of the deal.
Annual Taxes: $17,954.
Building description: The Belmont House is at 5509 Belmont Ave. in College Hill. It has 56 apartments.
Behind the deal: Real estate investor Harry Fath has been selling smaller properties to increase his portfolio of larger properties in Ohio and Texas. Holm Properties owns several small complexes throughout the central city area and views the buy as a solid long-term investment. The new owner plans to complete some minor cosmetic improvements, and Cincinnati Realty will continue to manage the Belmont House apartments.
Perry Brothers covers commercial real estate and compiles Prime Deal weekly for the Enquirer. She can be reached at 768-8503.
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INDUSTRY NOTES: REAL ESTATE
PRIME DEAL
TRISTATE SUMMARY
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