DEVELOPMENT OPPORTUNITY! Site plan development phase, two lots being sold 1841 / 1847 Mayo Street, for a combined total of 16,377 sq ft. A potential income opportunity for luxury apt. complex. Zoned high-intensity, multi-family, build up-to 42 units (1/1) or 32 units combined consisting of studios (4), one bedrooms (14) and two bedrooms (14). The possibilities are endless with these two properties combined. Rental properties are in high demand in this growing market. Current rental income $1500 per home that sits on these properties, below market value. Paying month to month tenants.
1841 Mayo St, Hollywood, FL, 33020
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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