Exceptional Triplex on Davis Islands. First time offered. This expansive two-story duplex features two well-appointed 2-bedroom, 1-bath apartments, each offering 1, 300 sq. ft. of living space. Additionally, there is a separate building that includes a charming studio apartment. The upstairs unit is ideally suited for an owner-occupied residence. OR a condo-conversion. The property boasts an on-site laundry room and an attached two-car covered carport. With hardwood and terrazzo/tile flooring throughout and central air conditioning, this solid concrete building has maintained a 100% occupancy rate for over 30 years, although the current rents are below market value, presenting a significant opportunity for value enhancement. The existing tenants are on month-to-month leases, with one unit currently occupied and two units vacant, allowing for immediate remodeling or resetting. Please note there was prior water intrusion from Hurricane Helene affecting the first-floor units, which has been remediated. This property represents an excellent opportunity to customize as a rental investment or primary residence. The zoning is RM-24, and the lot size measures 63 x 100.
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:
$995,000
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 | $796,000 | $796,000 | $796,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.750% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.343% | 6.851% | 6.704% |
Monthly Tax Payment | $1,050 | $1,050 | $1,050 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $5,097 | $5,163 | $6,934 |
Total Monthly Payment | $6,239 | $6,305 | $8,076 |
* 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.