THIS IS A UNIQUE & IMPRESSIVE INVESTMENT & DEVELOPMENT OPPORTUNITY LOCATED WITHIN THE CITY LIMITS OF NEW PORT RICHEY, FL!! Here is a RARE OPPORTUNITY to buy a total of 20 VACANT LOTS PRIMED FOR DEVELOPMENT of an APPROVED PROJECT consisting of 28 LUXURIOUS TOWNHOMES. These 20 lots will be sold as a BUNDLE DEAL only & are located on Pinewood Dr, New Port Richey. The total size of all the lots is about 3. 67 acres. The subject parcel is situated on the west side of US Highway 19, at the southern end of Pinewood Drive where the road dead ends just south of Avery Road. To the west is Petunia Court which ends at Oakwood Drive. Petunia Court would be extended east toward the parcels to provide access to the brand new townhomes once developed. Currently, all the lots have a wooded landscape and make an overall rectangular shape of approximate dimensions 260 ft by 615. 35 ft. The property is part of a platted subdivision known as Timber Woods, which includes lots 31 through 50 of varying sizes and shapes. THIS PROJECT HAS ALREADY BEEN APPROVED FOR DEVELOPMENT BY THE CITY OF NEW PORT RICHEY FOR 28 TOWNHOMES AT THIS SITE!!! The LUCKY developer will receive ALL the plans including but not limited to the plat map, survey, engineering plans & architectural design plans of these MAGNIFICENT TOWNHOUSES. Getting to this point of development took nearly 3 YEARS OF PLANNING, DEVELOPMENT, THE EXPERTISE OF MANY KEY PROFESSIONALS & FUNDS. The new owner will be handed everything on a SILVER PLATTER & will be ready to take over the development immediately after purchase. Of course, the buyer is encouraged to verify with Pasco County, City of New Port Richey & other professionals regarding building codes, zoning & whatever else is deemed necessary in order to make an informed decision. The proposed townhomes are slated to be CONTEMPORARY in style & will feature 1, 867 sqft of living sqft & 2, 460 total sqft which includes a 2-car garage, entry & lanai. The owner's suite will be on the main level while the secondary bedrooms will be on the second level. The buildings will either be facing East or West depending on which side of the street they are built so daily sunsets will paint the sky VIBRANT colors each evening. These future EXQUISITE townhomes will be centered at the HEART of SUPREME REAL ESTATE. Hop on your GOLF CART & CRUISE to downtown New Port Richey featuring FANTASTIC restaurants, taverns, festivals, shopping & professional offices. Sims Park is PHENOMENAL for everyone with a playground, splash pad, walking paths along the river & an outdoor amphitheater. The public boat launch is just a few short minutes away where you can take your boat directly to the Gulf of Mexico or enjoy kayaking down the river. Robert K. Rees Beach Park is about 3 miles away! The City of New Port Richey is BUSTLING & THRIVING! Location is IDEAL near schools, beaches, medical plazas, shopping centers, restaurants, places of worship, airport & tourist attractions. MAKE THIS YOUR FUTURE HOME!
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William Raveis Mortgage, LLC
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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 | $600,000 | $600,000 | $600,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.483% | 6.273% | 5.268% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,646 | $3,646 | $4,742 |
Total Monthly Payment | $3,738 | $3,738 | $4,834 |
* 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.