Seize this incredible opportunity to own a pristine 6-family building perfectly positioned directly across from the picturesque Astoria Park, offering serene park views right from your doorstep. Situated on the highly desirable Ditmars Blvd and just half a block from Shore Blvd, this semi-detached, brick building presents an excellent investment prospect or an ideal option for an owner-occupant looking to generate rental income. The building features a total of six spacious apartments, including five generously sized, box-style 2-bedroom, 1-bathroom units, and one fully renovated 1-bedroom, 1-bathroom unit, catering to a variety of tenant preferences. One of the 2-bedroom free market apartments will be delivered vacant, allowing for immediate rental potential or the perfect setup for an owner's personal residence. Meticulously maintained, this property is fully up-to-date on lead paint testing, as well as gas and parapet inspections, ensuring peace of mind and compliance with all safety regulations. Additional updates include: the main sewer line was replaced in 2018, two new 275 gallon oil tanks with supporting pipe system were installed in 2015, and a new hot water heater with burner was installed in 2020 among many other upgrades. Its prime location not only offers stunning views but also provides easy access to the vibrant lifestyle that Astoria is known for, with countless dining, shopping, and entertainment options nearby. Astoria Park features an Olympic sized swimming pool, newly renovated track, tennis courts and playgrounds providing endless opportunities for recreation and relaxation. Don't miss out on this rare opportunity to invest in a building that combines outstanding rental income potential with an unbeatable location.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,425,000
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 | $1,140,000 | $1,140,000 | $1,140,000 |
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 | $1,904 | $1,904 | $1,904 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $6,473 | $7,019 | $9,467 |
Total Monthly Payment | $8,502 | $9,048 | $11,496 |
* 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.