Welcome to 232 Glen St, New Britain-an exceptional multi-family investment opportunity offering TWO 2-family Buildings and a Commercial-Sized Garage, all in a desirable and growing area. The meticulously maintained Front Building features two spacious 3-bed, 1-bath units. The first-floor unit, currently vacant with a market rent of $1, 940, showcases a large living room, dining area, and kitchen, along with three generously sized bedrooms, each with ample closet space and in-unit laundry. The second-floor unit, leased for $1, 900, has the same layout and includes laundry access in the shared basement. Bonus, the first-floor unit offers central air, while the second-floor is ready for an easy AC upgrade with just a condenser needed. The Rear Building offers two 2-bedroom, 1-bath units. The first-floor unit stands out with impressive 9-foot ceilings, giving the space an airy, open feel. This unit is rented to a long-term tenant for $1, 600 with utilities included, as is the second-floor unit, also leased for $1, 600. A highlight of this property is the custom-built commercial garage with/ 9-ft garage doors. Currently used by the owner, it features electricity and could easily be rented out to generate additional revenue. Located in the heart of New Britain, this property is just minutes from local amenities, parks, and shopping centers with the convenience of nearby highways, public transportation, and major employers ensuring strong rental demand for years to come.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $520,000 | $520,000 | $520,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | $825 | $825 | $825 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,460 | $3,456 | $4,385 |
Total Monthly Payment | $4,376 | $4,372 | $5,301 |
* 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.