An opportunity to own a two-unit mixed-use building with two lots. The description will not do justice. This is a great opportunity for owner-occupied residential/business or investment residential with ample parking. Dream residential/commercial/Office on the first floor, with full basement access and a fully renovated two bedrooms with washer and dryer on the second floor. Handicapped accessible. In the middle of a densely populated residential and business district. Perfect for general usiness/commercial; office, accountant, beauty salon, professional, dental or medical, or other. The building is a mixed-use. This property would also make for a gorgeous single family with a zoning change from mixed-use to all-residential. The architectural blueprint and the land survey have already been done and paid. The plan is to keep the second floor as a rental and convert the first floor to a three-bedroom, office/den, 1. 5 bath, and open kitchen with dining. The lot is 22, 215 Sq. Ft. The second floor was remodeled about a year ago. The roof is about 5 years old. And, more! Walk to Gorton Pond. Minutes from the airport, restaurants, shopping and more. The second floor has a tenant and the first floor is vacant. The building is for sale or rent- whichever comes first! This is a once in a lifetime opportunity with lots of potential!
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $476,000 | $476,000 | $476,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | $606 | $606 | $606 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,247 | $3,164 | $4,014 |
Total Monthly Payment | $3,945 | $3,862 | $4,712 |
* 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.