Introducing a newly developed elevator building with nine units and tax abatement, strategically located on a spacious lot measuring 42 feet wide and 100 feet deep. Each floor boasts approximately 2, 093 square feet within dimensions of 42 ? 49. 6 feet. The building comprises seven two-bedroom and two one-bedroom units, each offering private outdoor space. Monthly gross income totals around $30, 000. This distinguished brick building is nestled in the highly sought-after Ridgewood neighborhood, known for its blend of comfort, style, and practicality, making it a standout in the area. With impressive features and an enviable location, this property promises attractive investment returns. Upon entry, you're greeted by spacious interiors with a welcoming ambiance. Each unit features generous living rooms, lofty ceilings, and floor-to-ceiling windows that flood the space with natural light. The interior decor includes a harmonious mix of tiles and hardwood floors, complemented by stainless steel appliances and outdoor areas that add sophistication to every room. Open-concept living areas ensure seamless flow and create a bright, airy atmosphere. Each unit also features washer/dryer hookups as well as dual zone heating of split units + baseboard heat to insure the building stays heated and cooled. Outside, residents can enjoy a serene shared backyard perfect for relaxation and gatherings, along with a communal roof deck boasting breathtaking views of the Manhattan skyline. Situated in the coveted Ridgewood neighborhood adjacent to Bushwick, the building offers easy access to Myrtle Wyckoff Ave Subway stops, providing convenient transportation to Manhattan. It's also conveniently located near the vibrant retail scene of Myrtle Ave, acclaimed dining spots such as Rolo, and a plethora of cafes and bars. With its exceptional features, prime location, and impeccable design, this building presents a compelling investment opportunity with promising returns and minimal expenses.
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Our Executive Mortgage Banker:
Our Insurance Division:
$5,300,000
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 | $4,240,000 | $4,240,000 | $4,240,000 |
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 | $667 | $667 | $667 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $24,074 | $26,106 | $35,209 |
Total Monthly Payment | $24,866 | $26,898 | $36,001 |
* 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.