Introducing Russell Place, an expansive 29, 000+ sq. ft. mixed-use building, blending professional office spaces with residential living. Recently re-zoned to accommodate 12 residential units, this property stands as a unique investment opportunity. The ground floor hosts a suite of professional offices, generating a robust income stream from established, long-term tenants. Approval has been granted for the conversion of the second and third floors into 12 modern residential apartments, with architectural plans readily available for review. Renovated in 2019, the building features a new roof, upgraded HVAC systems, and refreshed landscaping. It offers an abundance of onsite parking, both covered and uncovered, for tenants and visitors alike, ensuring convenience and accessibility. Situated at the strategic junction of Route 8 and I-84, it’s just minutes from the heart of downtown’s shopping, dining, and public transport options, making Russell Place an ideally located property with vast potential for growth and income generation. - Additionally, the adjacent lot, currently serving as extra parking, is part of the package.
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William Raveis Real Estate
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Contact@raveis.com
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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 | $1,680,000 | $1,680,000 | $1,680,000 |
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 | 7.055% | 6.234% | 5.805% |
Monthly Tax Payment | $3,786 | $3,786 | $3,786 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $9,408 | $10,208 | $13,839 |
Total Monthly Payment | $13,319 | $14,119 | $17,750 |
* 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.