Perhaps one of the finest locations in all of Historic St Augustine and tucked away behind the Casa Monica Hotel and adjacent to the Lightner Museum, lies Palm Row; a brick pavered, private lane circa 1904. Frequented by photographers, the backdrop of a palm tree lined street fronting Victorian style homes is a page from days gone by. 5 Palm Row has been used as a residential duplex and a professional office for over 40 years. Originally built in the early 1900's as a duplex for winter visitors who preferred this type of accommodation vs the hotels at the turn of the century. In its current configuration, the building is set up as identical floor plans of approximately 1500 sqft each, with an office suite downstairs (living room) and three offices (bedrooms) upstairs. This property also consists of an adjacent vacant lot currently used for parking - an extremely rare commodity in the Historic area and adds tremendous value to this offering. This grandfathered use as professional office can continue, or a new owner can choose to convert to residential or a mixed use. Comments below from COSA Planner - The lots are zoned Historic Preservation One (HP-1). There are two separate lots included with this offering - One which is vacant and used for parking, the other has the duplex. Any exterior changes to an HP-1 zoned lot requires approval by our Historic Architectural Review Board. The use would be grandfathered in as long as it continues operating as a business office. If the office is not used for a year than the grandfathered status no longer applies. Minimum 30 day short term rental in HP-1
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$1,595,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 | $1,276,000 | $1,276,000 | $1,276,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.443% | 6.258% | 6.201% |
Monthly Tax Payment | $959 | $959 | $959 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,753 | $7,753 | $10,768 |
Total Monthly Payment | $8,837 | $8,837 | $11,852 |
* 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.