EXCELLENT INVESTMENT OPPORTUNITY to acquire a 7 UNITS to Hold or for Individual Resale just steps off of the 4th St corridor in the sought after CRESCENT LAKE area of ST PETERSBURG proper!!! Comprising 7 FULLY OCCUPIED 1-Bedroom/1 Baths in an 8 unit condo property across 2 buildings on a large lot complete with off street parking, these homes are exceedingly walkable to all of the in demand destinations of downtown St Pete, the tennis and pickleball courts of gorgeous Crescent Lake, and the waterfront. These are high-demand products with balconies, patios and central AC, designed so that all are corner units - ideal for both our booming rental and sales markets, providing opportunities for multiple investment strategies with multiple exit options - the next owner can Buy and hold as a set, or sell off individually. With ON-SITE LAUNDRY, wood floors, updated units, fresh paint, FULLY SEPARATELY METERED FOR ELECTRIC all just steps off Crescent Lake and 4th Street all make this a TURN-KEY property for any investor on the spectrum, new or experienced. Located in a beautiful shaded neighborhood with mature landscaping and a great lifestyle these properties will be sure to provide SOLID, CONSISTENT CASH-FLOW and SIGNIFICANT UP-SIDE for the next owner regardless of strategy. This area is IN HIGH-DEMAND for rentals AND sales, and will remain that way for the foreseeable future as downtown ST PETE continues to boom! This NO-FLOOD ZONE property is in an IDEAL LOCATION for residents!! Walk to Crescent Lake, Central Ave, Beach Drive, and all of the excellent restaurants, shops and breweries, and ENTERTAINMENT, CULTURAL ATTRACTIONS and WATERFRONT PARKS that DOWNTOWN ST PETE is so rightly famous for!!! With easy access to the freeway it's also just a short drive to our amazing BEACHES or downtown Tampa - truly something for everyone. Don't wait - invest now in the future of St Pete!!! Pre-Contract Showings available when there are vacancies, walk-arounds welcome when there are not - contact today to schedule.
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,260,000 | $1,260,000 | $1,260,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.875% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.838% | 7.002% | 6.936% |
Monthly Tax Payment | $1,071 | $1,071 | $1,071 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $8,489 | $8,277 | $11,150 |
Total Monthly Payment | $9,685 | $9,473 | $12,346 |
* 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.