|
Presented by
Danielle McCain |
11-27 31st Drive, Long Island City, NY, 11106 | $2,195,000
This detached 4-family property is an excellent opportunity for both development and income investment. It boasts a strategic location with zoning designated as R7A and a generous FAR (Floor Area Ratio) of 4. This means there's significant potential for construction with a total buildable area of 10, 560 square feet. The property is versatile, offering options for development or for living in one unit while generating rental income from the others. The property's location is a strong selling point, as it is conveniently situated close to various amenities, including bus routes, the NYC Ferry, Socrates Sculpture Park, Costco, and more, making it appealing for both residents and potential renters. In summary, this detached 4-family property offers a blend of development potential and steady rental income, making it a versatile and attractive investment opportunity in a desirable location.
Features
- Rooms: 14
- Bedrooms: 10
- Baths: 4 full
- Units: 4
- Style: Colonial
- Year Built: 1916
- Heating: Natural Gas, Baseboard
- Cooling: None
- Basement: Finished, Full
- Acreage: 0.06
- Est. Taxes: $7,500
- Lot Desc: Near Public Transit
- Middle School: Is 141 Steinway (The)
- High School: Long Island City High School
- School District: Community District 30
- MLS#: 3515406
- Days on Market: 91 days
- Website: https://www.raveis.com
/prop/3515406/112731stdrive_longislandcity_ny?source=qrflyer
William Raveis Family of Services
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.
Danielle McCainSales Associate
203.257.8581
Danielle.McCain@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com, which receives over 1 billion hits per year
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Christine PrestonVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 90874
203.521.7207
Christine.Preston@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Rosemarie DePasqualeInsurance Sales Director, William Raveis Insurance
203.561.0013
Rosemarie.DePasquale@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
11-27 31st Drive, Long Island City, NY, 11106
$2,195,000
Danielle McCain
Sales Associate
William Raveis Real Estate
Phone: 203.257.8581
Danielle.McCain@raveis.com
Christine Preston
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.521.7207
Christine.Preston@raveis.com
NMLS Mortgage Loan Originator ID 90874
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,756,000 | $1,756,000 | $1,756,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.875% | 6.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.430% | 6.977% | 6.664% |
| Monthly Tax Payment | $625 | $625 | $625 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $10,670 | $11,536 | $15,297 |
| Total Monthly Payment | $11,420 | $12,286 | $16,047 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535