47 East Chop Drive, Oak Bluffs (East Chop), MA, 02557 | $11,000,000
East Chop waterfront – Once in a lifetime, a property of this caliber becomes available, with an on-the-water East Chop location, a wide range of amenities, and multi-functional use! Uses include -- 1. ) Currently operated as East Chop Harborfront Apartments (6 units), a pre-existing non-conforming use for the past 40+ years, 2. ) Use it as a residential home or family compound, or live in a portion and rent a portion, 3. ) Potential to convert to condominiums, paperwork presently in process but would be a buyers choice. Located directly on the harbor, this property features outstanding water views of the harbor and sound beyond and is just steps from the tennis club, beaches, ferries to the mainland and downtown. In pristine condition, this 6-unit property includes a 106 ft dock with water/electric for 8 slips and a 40’ T at the end for a 9th boat. Parking for 6-7 vehicles at street in front. Built in 1952, the property has had extensive top to bottom renovations.
Features
- Town: Oak Bluffs
- Amenities: Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Bike Path, House of Worship, Marina, Public School
- Rooms: 20
- Bedrooms: 7
- Baths: 6 full
- Style: Colonial
- Year Built: 1952
- Approx Sq. Feet: 3,888
- Acreage: 0.29
- Est. Taxes: $23,114
- Lot Desc: Level
- View: Scenic View(s)
- Water Front: Yes
- MLS#: 73112884
- Website: https://www.raveis.com
/eprop/73112884/47eastchopdrive_oakbluffs_ma?source=qrflyer
Listing by Perry Patterson courtesy of MV Luxury Homes LLC
William Raveis Family of Services
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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
47 East Chop Drive, Oak Bluffs (East Chop), MA, 02557
$11,000,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $8,800,000 | $8,800,000 | $8,800,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.250% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.821% | 6.396% | 5.990% |
| Monthly Tax Payment | $1,926 | $1,926 | $1,926 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $49,965 | $54,183 | $73,076 |
| Total Monthly Payment | $52,016 | $56,234 | $75,127 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
MA Mortgage Lender and Mortgage Broker #MC2630