Prime Investment Opportunity: Build 12 Apartments on this Fully-Entitled, Shovel ready - WITH DEVELOPMENT PLANS READY- Vacant Lot. *A Full Set of Architecturals would be at an additional cost. **Elevations available to view for serious inquiries. This vacant lot, strategically positioned in a rapidly growing area, presents a golden chance for investors and developers alike. Seize the moment to construct 12 modern apartments, tapping into the escalating demand for quality housing. Key Features: *Strategic Location: Nestled in a thriving and dynamic neighborhood, this lot is situated in close proximity to major amenities, commercial hubs, and transportation networks. Take advantage of the area's growth and be part of a community on the rise. *Development Potential: Zoned for residential development, this lot provides the canvas for a 12 unit apartment complex. Unlock the potential for a profitable return on investment by meeting the rising demand for housing in this burgeoning locale. *Investment Advantage: Capitalize on the increasing demand for quality living spaces in the vicinity. *Convenient Access: Enjoy the convenience of easy access to major roads, public transportation, and essential services. Enhance the desirability of your future apartments with the allure of a well-connected and accessible location. *Nearby Amenities: Benefit from close proximity to shopping centers, educational institutions, recreational facilities, and dining options. Your future tenants will appreciate the convenience of a vibrant and well-serviced neighborhood. *Investor's Dream: Whether you're an experienced developer or a savvy investor, this vacant lot offers an unparalleled opportunity to capitalize on the growth potential of the area. Don't miss out on this chance! Act now and turn this blank canvas into a profitable venture!
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Our Executive Mortgage Banker:
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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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $316,000 | $316,000 | $316,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.875% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.551% | 7.042% | 6.160% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,102 | $2,076 | $2,665 |
Total Monthly Payment | $2,177 | $2,151 | $2,740 |
* 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.