This exceptional 22. 58-acre lot presents a unique and lucrative opportunity for developers and investors looking to capitalize on the growing demand for residential living spaces. Perfectly zoned for apartment complexes, this expansive property offers the ideal setting for a premier residential development in an area poised for growth and revitalization. The lot's generous size and zoning flexibility accommodate a variety of development plans, from luxurious high-rise apartments to garden-style communities, with ample space for added amenities such as pools, clubhouses, and green spaces. Its flat topography and clear boundaries ensure ease of construction and design, allowing for a seamless development process from start to finish. Strategically located, the property benefits from both a peaceful, secluded atmosphere and convenient access to nearby urban centers. Residents will enjoy the tranquility of a suburban setting while being just a short drive away from shopping, dining, entertainment, and employment opportunities. The site is also well-connected to major roadways, ensuring easy commutes and accessibility. Utilities are readily accessible at the property line, including water, sewer, electricity, and gas, significantly reducing initial development costs and timelines. The area is supported by a strong local economy and a growing population, indicating a high demand for residential units and promising a quick lease-up period. This lot not only offers a prim
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William Raveis Mortgage, LLC
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NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $239,920 | $239,920 | $239,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,596 | $1,595 | $2,057 |
Total Monthly Payment | $1,671 | $1,670 | $2,132 |
* 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.