Attention All Investors and Builders - Rare Opportunity Awaits!! Two (2) Oceanfront Multi-Family Attached Townhouses Are Now Available. Stunning Ocean Views of Beach and Boardwalk. Needing Further Renovations to Maintain Multi-Family Status For Optimum Rent Roll. Also Ideal For Conversion to Single Family Contemporary Oceanfront Beach House. Great Opportunity To Live on The Beach!! Prime Oceanfront Development Opportunity! Attention all Developers and Builders! For the first time ever, an extraordinary 27, 000 Sq Ft direct oceanfront property (180 ft frontage by 150 ft depth) is available on the boardwalk. Currently, the property hosts 7 multi-family townhouses, encompassing a total of 26 legally distinct apartment units. This rare and valuable parcel is being offered as a complete package by all three owners for the first time ever, making it an unparalleled investment opportunity. As the last available property of its kind on the boardwalk, the potential for significant development cannot be overstated. Don't miss your chance to acquire a unique slice of oceanfront real estate with the opportunity to build your oceanfront dream luxury project. ***All 7 townhouses are now available for sale including, 658, 660, 662, 664, 666, 668, 670 West Broadway.
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Our Executive Mortgage Banker:
Our Insurance Division:
$17,999,999
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $14,399,999 | $14,399,999 | $14,399,999 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $80,636 | $87,496 | $118,617 |
Total Monthly Payment | $80,761 | $87,621 | $118,742 |
* 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.