This exclusive opportunity features a portfolio of nine properties in Philmont, NY, offering a mix of residential units across various addresses, all within a few block radius. The seller, a seasoned investor, prefers to sell the portfolio as a whole, though individual sales are possible. This portfolio offers an immediate income-generating investment with a projected NOI of $433, 661. With a mix of fully renovated units and others primed for upgrades, the portfolio promises both stability and growth potential. Each property has been maintained by the owner, who employs a team of contractors and utilizes DoorLoop for seamless property management. This portfolio offers immediate returns and long-term appreciation in a market with rising property values and increasing demand. Portfolio Highlights: Located in the up-and-coming village of Philmont, NY in the Hudson Valley, attracting both locals and city dwellers. 62 Main Street nearing completion of extensive renovation. This key building will feature 5 newly renovated units, a fully restored facade, new insulation, replacement of central oil heat with electric heating in each unit, and all new bathrooms. National Parks and SHPO historic restoration tax credits have been approved for both buildings at 7 Church Street. These approvals are transferable with the sale, reducing renovation costs for investors. Strong mix of unit sizes--from 1-bedroom units to larger 3-bedroom duplexes--offering a variety of rental options. Low landlord expenses on renovated properties. Recent upgrades, including new HVAC systems and electric heating, reduce operational costs and increase profitability. Transferable management software. The current owner uses the state-of-the-art DoorLoop online system to manage tenants and maintenance, leasing, applications, background checks, and rent collections, which can easily be transferred to new ownership. Opportunities for value-add improvements. Several units and buildings are vacant or under renovation, offering investors the chance to enhance value through continued upgrade
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:
$4,925,000
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 | $3,940,000 | $3,940,000 | $3,940,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.850% | 6.360% | 5.930% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $22,063 | $24,259 | $32,718 |
Total Monthly Payment | $22,188 | $24,384 | $32,843 |
* 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.